PBOC Dispatches Emergency Treasury Funds Following Nepal-Border Mudslide

The People's Bank of China opened an emergency "green channel" across its treasury system to rush disaster relief funding to the border region of Gyirong County in Tibet. The move followed a mudslide triggered on the Nepal side of the border on August 26 that caused major casualties and missing persons at Gyirong Port. By 8:00 p.m. that evening, the central bank's regional treasury had channeled 3 billion yuan to Shigatse, which in turn sent 600 million yuan directly down to Gyirong County's agent sub-treasury to fund emergency rescue operations.

In the immediate aftermath of severe natural disasters, rapid liquidity access is critical for on-the-ground emergency rescue, medical aid, and resettlement operations during the golden search window. The mobilization demonstrates how China leverages its integrated central bank treasury infrastructure to transmit large-scale emergency liquidity from regional vaults down to remote county-level frontlines within hours.

China's central bank has launched an emergency treasury "green channel" to fast-track disaster relief funding following a fatal cross-border mudslide at the Sino-Nepalese frontier, official state media reported. The incident occurred around 10:30 a.m. on August 26, when a mudslide originating on the Nepal side struck the area around Gyirong Port in Tibet's Gyirong County, resulting in major casualties and missing persons, according to a Xinhua report citing the People's Bank of China. The port serves as a primary overland artery connecting China and South Asia. In response, the central bank's Tibet Autonomous Region branch rapidly triggered an emergency mechanism spanning three administrative tiers of the national treasury: the regional level, the Shigatse municipal level, and the Gyirong county level. The central bank established a joint coordination network linking fiscal authorities, the national treasury, and commercial banks to provide around-the-clock clearance. Under this arrangement, applications for disaster relief funds operate under an expedited "immediate arrival, immediate review, and immediate processing" procedure to eliminate transaction bottlenecks. According to central bank data, the national treasury's Tibet regional sub-treasury had disbursed 3 billion yuan to the Shigatse central sub-treasury by 8:00 p.m. on August 26. In turn, the Shigatse branch transferred 600 million yuan directly to the Gyirong County agent sub-treasury to finance local rescue and relief efforts. The PBOC's Tibet branch stated that it will continue to track disaster relief progress and deepen communication with regional fiscal authorities to keep treasury remittance channels unimpeded.