Swiss turn eagerly to renminbi

Chinese bank awaits approval to establish operations in Zurich, a world finance center

After ditching its euro cap, Switzerland courted the yuan with renewed vigor as it signed key financial deals with China on Wednesday.

Zurich received 50 billion yuan ($8 billion) as its Renminbi Qualified Foreign Institutional Investors quota, which will allow investors in Switzerland's financial capital to invest renminbi directly into Chinese financial markets.