On May 17, 2023 in Xi'an (Shaanxi Province) representatives of "Ipak Yuli" Bank held a meeting with representatives of the Chinese bank "China ZheShang Bank" (CZBank). During negotiations the ways of development of bilateral cooperation, establishment of business relations of Uzbek companies with Chinese partners as well as support and establishment of trade operations aimed at purchase of technological equipment from China were announced.

During the meeting, Ipak Yuli Bank and CZBank signed a Cooperation Agreement to implement the opening and maintenance of correspondent accounts between banks, as well as the development of the digital banking industry.

This agreement was implemented during the China-Central Asia 2023 Summit, which will serve to strengthen bilateral relations between China and Uzbekistan, supporting the core interests of the two countries and deepening mutual cooperation.

In accordance with the document, the parties intend to cover a wide range of interaction between financial institutions, where priority directions are the opening of correspondent accounts, joint implementation of mutually beneficial business in the field of payment transactions and development of e-commerce between Uzbekistan and China.