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Swiss to enhance links with Chinese
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SWITZERLAND will tighten financial links with China because it is optimistic about the Chinese economy and currency, Swiss government officials said at the end of a G20 meeting.
“We are very glad to be invited to the meeting this year (as) this indicated recognition of the status of Switzerland in the global financial industry as well as tightening links between Switzerland and China,” said Swiss Finance Minister Ueli Meurer on Saturday. Meurer said Switzerland has proposed to restructure national debts to increase fiscal revenue and and develop a green financing market to enhance environment protection.
A conference to study green finance will have its first meeting in Switzerland in May.
Swiss National Bank President Thomas Jordan said he is very confident about the Chinese economy and the stability of the yuan.
Last November China and Switzerland set up direct currency trading between the Swiss franc and the yuan without using the US dollar as an intermediary currency.
The China Construction Bank, which set up its branch in Zurich last October, has been assigned as the yuan clearing bank to facilitate offshore use of the yuan.
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