Using Yuan will help provide better conditions for bilateral trade: Chinese spokesperson

Encourages market players of the two countries to settle bilateral trade and investment in local currencies

China’s Foreign Ministry Spokesperson Geng Shuang has said that since the central banks of China and Pakistan signed a bilateral currency swap deal in 2011, the currency cooperation between the two countries has deepened.

Geng said this while answering a question regarding the recent statement issued by the central bank of Pakistan allowing Pakistanis and Chinese public and private sector enterprises to use Chinese Yuan for bilateral trade and investment activities.

“At present, various forms of trade and investment cooperation between China and Pakistan are developing in an in-depth manner. We encourage market players of the two countries to settle bilateral trade and investment in local currencies and welcome Pakistan's relevant measures.”

He further said that this move will help provide better financial conditions for China-Pakistan bilateral trade and investment cooperation and the building of the China-Pakistan Economic Corridor.