Southeast Asia Information Port (www.dnyxxg.com) – The Vientiane Branch of the Industrial and Commercial Bank of China (ICBC) officially launched the UnionPay Vientiane Win Card (VW Card) and simultaneously initiated a cooperation plan focusing on strengthening cross-border financial transactions and promoting the Belt and Road Initiative. This move not only marks a crucial step forward in Sino-Lao financial innovation but also holds significant importance for deepening economic and cultural ties between the two countries.
I. High-Level Launch Event: Gathering Core Forces from Chinese and Lao Governments and Businesses
The VW Card launch event was of a high standard, highlighting the importance of the cooperation project. Distinguished guests included key figures from the financial and diplomatic fields of both China and Laos:
Ms. Fang Hong, Chinese Ambassador to Laos
Mr. Arun Bounyong, Vice President of the Bank of the Lao People's Democratic Republic (original text: "Arun Bounyong" corrected)
Mr. Guo Dayong, Chairman of China UnionPay
Mr. Shen Xueqin, President of the Vientiane Branch of ICBC (original text: "Shen Xueqin" incorrectly corrected)
In addition, representatives from several news organizations and business partners also attended the launch event, witnessing this achievement in cross-border financial cooperation.
II. Speeches from Multiple Parties: Focusing on Payment Value and China-Laos Cooperation
1. Shen Xueqin: VW Card Enhances Payment Experience in China and Laos
Shen Xueqin, President of the Vientiane Branch of the Industrial and Commercial Bank of China (ICBC), emphasized in his speech that convenient payment is the "lifeline" of China-Laos cooperation and a key support for economic and cultural exchanges between the two countries. He stated that the launch of the VW Card will significantly upgrade the payment experience for people in both countries, and that ICBC's Vientiane Branch will continue to optimize cross-border payment products and services to meet market demand for upgraded convenient payment options.
2. Fang Hong: Payment Innovation Becomes a Link Between the Belt and Road Initiative and People's Livelihoods
Fang Hong, Chinese Ambassador to Laos, pointed out that convenient payment methods play a positive role in promoting the Belt and Road Initiative. She believes that financial transactions are not only the lifeline of economic development but also a "spiritual link" connecting the people of both countries. The launch of the VW Card is a pragmatic measure that directly serves travelers and consumers, ultimately benefiting the daily lives of people in both countries. 3. Arun Bounyong: Laos Fully Supports China-Laos Financial Cooperation
Arun Bounyong, Vice Governor of the Bank of the Lao People's Democratic Republic, stated that Laos highly values the promotion of a safe, convenient, and modern electronic payment system. He reiterated that the Lao National Bank will continue to provide a favorable policy environment for Chinese financial institutions, encouraging commercial banks to improve their service systems, thereby promoting bilateral trade and investment between China and Laos.
4. UnionPay: Optimizing the Southeast Asian Payment Environment
A representative from China UnionPay (based on information from attending guests) mentioned that UnionPay will leverage the launch of the VW Card to focus on improving the payment environment in Laos and throughout Southeast Asia, enhancing the security and efficiency of cross-border payment services, and ensuring the coordinated development of China-Laos economic and trade cooperation.
III. Core Advantages of the VW Card: Security, Convenience, and Cultural Integration
The newly launched UnionPay Vientiane Win Card (VW Card) combines multiple advantages in design and functionality:
Seamless Cross-Border Payment: Supports use at all UnionPay acceptance points in Laos, China, and globally, meeting cross-border consumption and transaction needs.
Equal Emphasis on Security and Convenience: Based on security technology, it also considers ease of use, lowering the threshold for cross-border payments. Cultural Symbolism: The card features distinctive cultural patterns from Guangxi Zhuang Autonomous Region, China. Guangxi is renowned for its rich tourism resources, and this design symbolizes the friendly exchanges and cultural connections between China and Laos, giving the card a unique cultural connotation.
IV. Follow-up Measures: Promoting Digital Transformation and Service Upgrades
The press conference also announced several future development plans to further deepen China-Laos financial cooperation:
Exploring the Application of Digital RMB: Promoting digital transformation and exploring the possibility of using electronic RMB (digital RMB) in cross-border payment scenarios.
Service Enhancement in Five Major Areas: The Industrial and Commercial Bank of China (ICBC) called on UnionPay and its partners to optimize services in five aspects:
Expanding service coverage to include merchants, hotels, and transportation scenarios along railway lines;
Introducing in-card benefits such as discounts and cashback to create a superior user experience;
Leveraging security technology to modernize the payment system;
Promoting service integration and improving the local payment system in Laos;
Continuously promoting the digital transformation of the payment sector.
V. Core Significance: Benefiting Trade, Economy, and People's Livelihoods, Deepening China-Laos Friendship
The launch of the VW Card and related cooperative initiatives will directly promote trade, investment, and tourism development between China and Laos, creating tangible benefits for the people. At the same time, this cooperation further consolidated the enduring friendship between China and Laos and provided a new model for cross-border financial cooperation under the Belt and Road Initiative.
