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


News Desk January 05, 2018
STOCK IMAGE

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.

Chinese currency to get same status as the US dollar in Pakistan


“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.

COMMENTS (2)

Mango Man | 3 years ago | Reply Colonial take over complete!
BrainBro | 3 years ago | Reply The Chinese will not be happy with the current exchange rate. Would the establishment force SBP to further drop the value of Pak rupee to accommodate the Chinese. The Chinese would want to buy cheaper Pak rupee, which for them is way to over valued.
Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read