22:28, 03-Jan-2018
China-Pakistan Ties: Yuan to be used in trade & investment
[]
Share
Copied
Looking at Chinese-Pakistani economic ties now. Pakistan's central bank has approved usage of the Chinese yuan as a settlement currency for trade between the two countries. The State Bank of Pakistan said Tuesday that public and private companies in both countries were free to use the yuan for bilateral trade and investment activities.
The approval could mean the replacement of the US dollar for transactions in China-Pakistan Economic Corridor projects. The central bank has already implemented measures concerning usage of the yuan in trade and investment. The central bank says yuan-dominated trade with China was expected to surge in the near future.