xi's moments
Home | Finance

Enhanced currency swap agreement signed between PBOC, HKMA

Xinhua | Updated: 2022-07-05 13:13

Photo taken on June 22, 2022 shows the view at the Victoria Harbor in Hong Kong, South China. [Photo/Xinhua]

BEIJING -- The People's Bank of China and the Hong Kong Monetary Authority announced Monday that the Currency Swap Agreement has been enhanced.

It has become a long-standing arrangement with no need for renewal. Its size has also been expanded from 500 billion yuan (about $75 billion) to 800 billion yuan.

The agreement will further deepen financial cooperation between the Chinese mainland and Hong Kong, better support the development of Hong Kong as an international financial center, and foster the development of the offshore RMB market in Hong Kong, said the PBOC.

The currency swap arrangement was established by the PBOC and the HKMA in 2009.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349