Using Yuan will help provide better conditions for bilateral trade: Chinese spokesperson

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Using Yuan will help provide better conditions for bilateral trade: Chinese spokesperson
By News Desk
Published: January 5, 2018
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China’s Foreign Ministry Spokesperson Geng Shuang has said that since the central banks of China and Pakistan signed a bilateral currency swap deal in 2011, the currency cooperation between the two countries has deepened.

Geng said this while answering a question regarding the recent statement issued by the central bank of Pakistan allowing Pakistanis and Chinese public and private sector enterprises to use Chinese Yuan for bilateral trade and investment activities.

Chinese currency to get same status as the US dollar in Pakistan
“At present, various forms of trade and investment cooperation between China and Pakistan are developing in an in-depth manner. We encourage market players of the two countries to settle bilateral trade and investment in local currencies and welcome Pakistan’s relevant measures.”



He further said that this move will help provide better financial conditions for China-Pakistan bilateral trade and investment cooperation and the building of the China-Pakistan Economic Corridor.


Read more: China , Cooperation , Currency

 

[4GTejasBVR]

CPEC is the back door of china's entry into Pakistan with greater voice and command Same as how China using orob or. New silk route. Financial sovereignty should be the highest priority for Any country or. Else rest of world would had jumped on to dollars as their currency for many decades before.

I never understood what is wrong with Pakistan policy makers. Yes am. Indian and I have nothing to do with Pakistan. But common sense still makes me wonder. China is not there for dosti dosti. Chinese people are very intrusive where ever they went. Their main objective is to takeover.