Saturday, October 25, 2014   

China, Switzerland sign currency swap deal
(07-21 17:27)

China's central bank announced on Monday that it signed a bilateral currency swap agreement with the Swiss National Bank worth 150 billion yuan, or 21 billion Swiss francs (HK$181.2 billion).
The term of the swap agreement will be three years and can be extended if both parties agree, the People's Bank of China said in a statement.
The signing of the currency swap deal can help facilitate trade and investment between China and Switzerland and provide liquidity support for the development of the offshore yuan market in Switzerland, the PBoC said.
In a separate statement on Monday, the SNB said it was also granted an investment quota for the Chinese interbank bond market in the amount of 15 billion yuan.
Since 2009, China has set up bilateral currency swap lines with more than 20 countries and regions. --Xinhua   
Other Business breaking news:
China and 20 other countries sign up to regional bank (10-24 18:00)
Britain says EU is asking for bigger contribution (10-24 17:49)
British economy grows slower in Q3 (10-24 17:00)
Firm in China's first bond default to be restructured (10-24 16:59)
Hang Seng closes lower (10-24 16:22)
Pearson reports sliding sales (10-24 16:22)
European stocks fall at open (10-24 16:05)
BASF says won't meet 2015 targets (10-24 16:04)
ECB to unveil results of eurozone bank health check (10-24 16:04)
German consumer confidence stops falling: survey (10-24 15:59)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.