A post by @FirstSquawk on X.
CHINA’S FINANCE MINISTRY SAYS BOTH SIDES WELCOMED THE IMPLEMENTATION OF BILATERAL LOCAL CURRENCY SWAP ARRANGEMENTS AND RECENT POSITIVE PROGRESS IN CHINA-CANADA TRADE CONSULTATIONS
@FirstSquawk on X
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The statement signals continued official support for expanding settlement in yuan and Canadian dollars, reducing reliance on third-party currencies such as the U.S. dollar in bilateral trade. It also points to a thaw in China-Canada commercial relations after a period of friction. Traders will watch for details on the swap line’s size and duration, and for follow-through in trade and investment flows between the two economies.
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China Finance Ministry, China, Canada