Latest News
Mainland, Hong Kong extend currency swap deal
Last Updated: 2017-11-28 08:46 | Xinhua
 Save  Print   E-mail

The People's Bank of China (PBOC), the country's central bank, said Monday it has extended a currency swap agreement with the Hong Kong Monetary Authority.

The size of the swap line is 400 billion yuan (60.6 billion U.S. dollars) or 470 billion Hong Kong dollars, according to a PBOC statement.

The two parties believe the extension will help maintain regional financial stability, support trade and investment between the mainland and Hong Kong, and develop Hong Kong's offshore yuan market, the PBOC said.

The pact is valid for three years and can be extended upon mutual consent.

A currency swap deal allows two institutions to exchange payments in one currency for equivalent amounts in the other to facilitate bilateral trade settlements and provide liquidity support to financial markets.

0
Share to 
Related Articles:
Most Popular
BACK TO TOP
Edition:
Chinese | BIG5 | Deutsch
Link:    
Xinhuanet | Chinadaily.com.cn | People's Daily Online | China.org.cn | CNTV | China.com | Global Times | Ecns.cn | China Youth International | Visit Beijing | Taiwan.cn
About CE.cn | About the Economic Daily | Contact us
Copyright 2003-2015 China Economic Net. All right reserved