BOC Yunnan branch helps two-way power transmission trade settlement between China and Laos

The Bank of China's (BOC) Yunnan Branch realized the cross-border RMB settlement business volume of China-Laos two-way power transmission trade reaching 12 million yuan from July 30 to August 31, reported Chinanews.com Monday.

In order to help consume the surplus hydropower in Laos during the rainy seasons, China Southern Power Grid (CSG) and Electricite du Laos (EDL) signed a 115 kV power trade agreement in March.

China and Laos agreed to send extra hydropower from Laos to Yunnan Province in rainy seasons, while in dry seasons, CSG will supplement the power supply to northern Laos.

At present, BOC Yunnan Branch actively cooperates with China's power companies to promote the cross-border connectivity of clean energy and the larger scale of cross-border power trade, aiming to provide enterprises with professional international settlement and cross-border RMB financial services, further realizing the complementary advantages between China and Southeast Asian countries in energy sector and promoting the coordinated development of regional economy through clean energy cooperation.