China lauds Pakistan allowing use of Yuan in bilateral trade

[ahlam1399]

China lauds Pakistan allowing use of Yuan in bilateral trade

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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