China Signs 10-Billion-Yuan Swap Deal With Sri Lanka on Xi Visit
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China signed a 10-billion-yuan ($1.63 billion) currency-swap agreement with Sri Lanka, another step in Beijing’s efforts to promote the use of the yuan in global trade and finance.
The Central Bank of Sri Lanka announced the program today in an e-mailed statement, during a visit to Colombo by Chinese President Xi Jinping. The People’s Bank of China last month granted Sri Lanka’s central bank a license to invest in China’s domestic interbank bond market.