CHINA – PAKISTAN Yuan to be used in trade between China and Pakistan

ASIANEWS | on Wed, Jan 3, 7:29 AM

Karachi (AsiaNews) – China and Pakistan have agreed to use the yuan in bilateral trade, the State Bank of Pakistan (SBP) in Karachi has announced. The new regulatory framework – including the opening of letters of credit, clearing of transactions and financing facility in the yuan – is in place. Imports, exports and financial transactions between the two countries can now be denominated in the yuan, which is set to boost economic ties with China, the SBP said in its press release. This puts t...

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