CCTV International

Since the outbreak of global financial crisis, the People's Bank of China has signed currency swap agreements with 6 regions and nations.

This is in a drive to free up trade finance channels that have been clogged by the global credit crunch. The agreements total 650 billion yuan RMB.

Since the outbreak of global financial crisis, the People's
Bank of China has signed currency swap agreements with 6
regions and nations.

The PBOC is currently talking with other central banks which have similar demands. Analysts believe the moves will expand the role of RMB overseas.

PBOC Currency Swap Scales

2008 Dec 12    ROK          ¥180 bln
2009 Jan 20    HKSAR        ¥200 bln
2009 Feb 08    Malaysia     ¥80 bln

2009 Mar 11    Belarus      ¥20 bln
2009 Mar 24    Indonesia    ¥100 bln
2009 Mar 29    Argentina    ¥70 bln

Editor:Qin Yongjing