- CNTV English - CCTV News

China signs currency swap deal with Mongolia

05-06-2011 15:53 BJT

BEIJING, May 6 (Xinhua) -- The People's Bank of China (PBOC), the country's central bank, said Friday that it has signed a 5-billion-yuan (about 769 million U.S. dollars) currency swap agreement with the Central Bank of the People's Republic of Mongolia.

The agreement will last for three years and is extendable by mutual consent, according to a statement posted on the PBOC's website.

The swap is aimed at promoting bilateral trade and offering short-term liquidity to the two countries' financial systems, it said.

Since the onset of the world financial crisis in late 2008, China has signed currency swap agreements with 11 countries and regions with a combined value of 834.2 billion yuan.

Analysts said the moves will be of great significance in promoting cross-border trade settlements and investment using the yuan, China's currency.

Editor:Yang Jie |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program