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 In Britain the central bank signed a bilateral local currency swap agreement

According to the website of the people's bank of China approved by the state council, on June 22nd, the people's bank of China and bank of England signed the scale of 200 billion RMB/GBP 20 billion china-uk bilateral local currency swap agreement, aimed at provide support for bilateral economic and trade exchanges, and is conducive to maintaining financial stability. Swap agreement is valid for three years, can be extended by mutual consent.

In recent years, the RMB business in the London market has obtained certain development. Establishing bilateral local currency swap arrangement with the bank of England, but to the further development of the renminbi market in London to provide liquidity support, promote the use of the yuan in overseas markets, and conducive to trade and investment facilitation. China-uk bilateral local currency swap agreement signed, marking the people's bank of China and bank of England has made new progress in the field of monetary and financial cooperation.

---By Daitto Global Sourcing Service