BEIJING:
China has welcomed Pakistan's move
allowing the
Yuan to be used for imports, exports and financing transactions for
bilateral trade and investment activities.
China's Foreign Ministry Spokesperson Geng Shuang said on Thursday that
bilateral monetary cooperation has been deepening since
China and
Pakistan signed a
bilateral currency swap agreement in 2011.
?At present, various forms of
trade and investment cooperation between
China and
Pakistan have developed in depth,? he added. Pakistan's central bank had stated on Tuesday that public and private sector enterprises may use the
Yuan for
bilateral trade and investment.
Answering a question Chinese spokesperson "We encourage market players in
both countries to use domestic currency settlement in
bilateral trade and investment and welcome Pakistan's initiatives."China believes this will provide a good financial environment for
bilateral economic,
trade and investment cooperation and the construction of the China-Pakistan Economic Corridor, he added.
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