Skip to Content Facebook Feature Image

Lao people welcome deeper cooperation with China

China

China

China

Lao people welcome deeper cooperation with China

2026-06-03 13:48 Last Updated At:15:12

Lao people expressed welcome to the deepening of cooperation with China, saying that it will bring more investment to the country and strengthen people-to-people exchanges.

Thongloun Sisoulith, general secretary of the Lao People's Revolutionary Party (LPRP) Central Committee and president of Laos, is paying a state visit to China from June 2 to 6. The visit is expected to continue to deepen exchanges and cooperation between the two countries across various fields.

While speaking to the China Global Television Network (CGTN), Thai Vang Vanmalate, an employee of the Laos-China Railway, said that the closer Laos-China ties will bring more tourists and investment to his country.

"As relations between China and Laos continue to grow closer, this will not only drive development in our country but also make travel between our two nations more convenient, allowing Chinese tourists to visit Laos with greater ease. First, this will undoubtedly lead to a significant increase in the number of tourists to our country. Second, it will attract more foreign investors, including those from China. An increase in investors will greatly accelerate the pace of Laos's development," he said.

Sinxai Phetthavikham, a student of the Confucius Institute under the National University of Laos, expressed hope that more people-to-people exchanges will help continue the traditional friendship between the two peoples.

"I sincerely hope that this visit will further propel the flourishing development of bilateral cooperation between Laos and China across many fields -- including economy, society, education, culture, and infrastructure. Furthermore, I am particularly eager to see the younger generations of both countries strengthen their exchanges and mutual learning in culture and language, so as to carry forward the traditional friendship between Laos and China," he said.

Lao people welcome deeper cooperation with China

Lao people welcome deeper cooperation with China

Gold became the largest component of global official reserves in 2025, surpassing holdings of U.S. Treasuries and the euro as rising prices boosted its share, the European Central Bank (ECB) said Tuesday.

Gold made up 27 percent of the total official foreign reserves, including foreign exchange and gold holdings, at the end of 2025, compared with 22 percent for U.S. Treasuries and 15 percent for the euro, according to an ECB report.

Data released by the ECB showed that global central bank gold purchases surged in 2022, peaked in 2024, and then eased in 2025.

Gold purchases by central banks fell to around 850 tons, below the average level between 2022 and 2024, which topped 1,000 tons. Despite historically high prices, demand for gold remained elevated.

The increase in gold's share of official reserves was driven largely by soaring prices, the ECB said. Gold prices soared by 60 percent and 30 percent in nominal terms in 2025 and 2024, respectively.

Apart from diversification, central banks use gold as a hedge against geopolitical risk. However, compared to fiat currencies, gold's status as part of reserves has limitations, the ECB report argued, citing price volatility, the inability to be remunerated, high storage costs, and inelastic supply.

Gold surpasses US Treasuries, euro in global official reserves: ECB

Gold surpasses US Treasuries, euro in global official reserves: ECB

Recommended Articles