China and Belarus ink swap agreement
Source: Xinhua |
March 26, 2010, Friday
|
Print Edition
Print Edition
THE People's Bank of China announced yesterday it has signed an agreement with the central bank of Belarus, under which bilateral trade can be settled with the Chinese yuan or Belarussian ruble.
The move would help deepen economic cooperation and facilitate trade and investment between the two nations, the PBOC said on its Website.
The PBOC said it was a major step in promoting the yuan in global trade settlement after it launched in July 2009 a pilot program of cross-border settlement in yuan in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan.
Official data showed the value of yuan-denominated cross-border trade settlement totaled 5.6 billion yuan at the end of February.
China has similar swap pacts with other nations.
The move would help deepen economic cooperation and facilitate trade and investment between the two nations, the PBOC said on its Website.
The PBOC said it was a major step in promoting the yuan in global trade settlement after it launched in July 2009 a pilot program of cross-border settlement in yuan in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan.
Official data showed the value of yuan-denominated cross-border trade settlement totaled 5.6 billion yuan at the end of February.
China has similar swap pacts with other nations.
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