China and Australia central banks ink currency-swap deal

China and Australia central banks ink currency-swap deal The central banks of China and Australia signed a RMB 200billion (US$31.74 billion) currency swap agreement for a preliminary three-year period which could extend with both sides’ consent. The deal is intended to help reinforce financial cooperation between Australia and China, as the nations boost bilateral trade , investment, and promote regional financial stability. Since the global financial crisis started, China has signed currency swap agreements worth RMBb1.5 trillion（US$ 237million）with 17 countries and regions to sustain its trade and investment with other economies.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

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