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China, Pakistan sign MOU on renminbi clearing arrangements

By Zhou Lanxu | chinadaily.com.cn | Updated: 2022-11-03 10:35
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The People's Bank of China and the State Bank of Pakistan recently signed a memorandum of understanding on establishing renminbi clearing arrangements in Pakistan, the PBOC said in a statement on Wednesday.

The arrangements will boost the usage of renminbi for cross-border transactions among Chinese and Pakistani enterprises and financial institutions and further facilitate bilateral trade and investment, the statement added.

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