Looking at China-Pakistan ties now. Pakistan's central bank has approved usage of the Chinese yuan as a settlement currency for trade between the two countries. The approval could mean the replacement of the US dollar for transactions in China-Pakistan Economic Corridor projects. CGTN's Danial Khan has more.

DANIAL KHAN ISLAMABAD Title: China-Pakistan Economic Ties Danial Khan As-Live "According to the state bank, Pakistan is hoping to boost trade and economic ties with China by trading with the country in yuan. Experts say this would simplify the investment coming through the China Pakistan economic corridor. Pakistan will allow the Chinese yuan to be used for imports, exports and financing transactions for bilateral trade and investment activities. According to a statement issued by the state bank, a regulatory framework including opening of letters of credit, clearing of transactions and financing facility in the yuan has already been put in place. Both public and private sector enterprises will be able to avail the use of the yuan for bilateral trade and investment. In Pakistan, the yuan is an approved currency for denominating foreign currency transactions. The statement says the move has put the yuan on par with other international currencies such as the US dollar, euro and Japanese yen and would greatly ease pressure on foreign exchange outflows. Experts maintain the move will yield long term benefits for both the countries in light of the massive China Pakistan economic corridor project in Pakistan. Danial Khan, CGTN, Islamabad."