China, Chile renew bilateral currency swap agreement for five years

(ECNS) -- The People's Bank of China (PBOC) and the Central Bank of Chile have renewed their bilateral currency swap agreement, maintaining the swap scale at 50 billion yuan (about $7.0 billion) and 6 trillion Chilean pesos, the PBOC said Thursday.

The agreement is valid for five years.

The renewal will help deepen monetary and financial cooperation between the two countries, facilitate bilateral trade and investment, and maintain financial market stability, the PBOC said.

(By Tang Yuxian)