On December 10, the university and the Ministry of Finance of the Lao People's Democratic Republic signed a Memorandum of Understanding (MOU) in Vientiane, the capital of Laos. Vice President Yan Ming and Somchit Khammoungkhoun, Director of the General Office of the Lao Ministry of Finance, signed the document on behalf of their respective sides.

According to the MOU, the university will provide comprehensive support to the Lao Ministry of Finance, including assisting in the establishment and improvement of accounting and auditing standards and systems, building a Lao accounting professional qualification examination system, compiling finance and economics training materials, and providing professional and degree education for young officials. Both parties also plan to co-establish the "YUFE Laos Business School" in Vientiane to provide on-site training and policy consulting services for Lao financial officials.

Source: Official account of the Ministry of Finance of Laos

Lao Vice Minister of Finance Phouvong Kittavong, along with officials from the Laos-China Cooperation Committee, the Department of Inspection, the Department of Accounting Management, the Banking and Finance Institute, and the Department of Budget, witnessed the signing ceremony.

Before the ceremony, Vice Minister Phouvong Kittavong met with the university delegation and expressed full support for the implementation of the MOU. Yan Ming exchanged views with the Vice Minister on specific arrangements, and both sides identified the revision of accounting standards as a priority area for cooperation.

In recent years, the university has continuously deepened its cooperation with various Lao ministries, training over 300 Lao international students and more than 30 young and middle-aged officials for the Ministry of Industry and Commerce, the Ministry of Health, the Ministry of Information, Culture and Tourism, and the Laos-China Cooperation Committee. Since 2023, the university has helped build a VR teaching center for Lao digital business talent cultivation, completed a feasibility study for a medical and health capacity building project, and signed cooperation agreements with several ministries, including the Ministry of Public Security and the Ministry of Technology and Communications. These projects have deepened pragmatic cooperation between China and Laos in financial governance and provided new momentum for regional economic synergy.

Second from the right: Phouvong Kittavong, Vice Minister of Finance of Laos

Yu Yong, Director of the International Cooperation and Exchange Office, Li Xiaojun, Dean of the Accounting/Audit School, and Pan Xuedong, Dean of the School of Overseas Education, participated in the event.