Wednesday January 28 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: China
The People’s Bank of China (PBC) and the Swiss National Bank signed a Memorandum of Understanding (MoU) on 21st January 2015. The purpose of the MoU is to establish RMB clearing arrangements in Switzerland.
PBC has also extended its pilot scheme of RMB Qualified Foreign Institutional Investors (RQFII) to Switzerland with an investment of 50 billion yuan.
It is hoped the above developments will promote bilateral financial cooperation between China and Switzerland.
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