China has proposed Bangladesh conduct transactions using the Chinese currency with a view to tackling the ongoing dollar crisis.

Chinese Ambassador to Bangladesh Yao Wen came up with the proposal as he paid a courtesy call on Planning Minister Abdus Salam at Sher-e-Bangla Nagar in Dhaka’s Agargaon on Tuesday.

“We are also facing challenges due to the dollar crisis resulting from the mismatch of financial and monetary policies in the United States. Global issues impact us as well,” he told reporters after the meeting.

“That's why we have proposed Bangladesh to trade through our currency to boost trade and investment, and Bangladesh is considering it.”

When asked about the discussion, the ambassador highlighted that very few countries currently have a five-year plan, and both China and Bangladesh are among them. China has been implementing its 14th five-year plan, providing numerous opportunities for collaboration, he said.

Wen emphasised the potential for exchanging experiences and working together on these plans.

He pointed out that China has a National Development and Reform Commission similar to Bangladesh's Planning Commission. Discussions focused on how these two commissions could collaborate, he added.

In efforts to strengthen China-Bangladesh relations, Planning Minister Abdus Salam said, “We have addressed the challenges now we are facing. Both countries have been implementing five-year plans, and we have explored avenues for exchanging experiences on these matters.”