PBOC pushes yuan clearing services along Belt and Road

Bilateral, multilateral financial platforms will help facilitate trade and investment

The central bank will continue to make more bilateral currency swap deals, and enlarge the scope and scale of renminbi settlements with countries along the Belt and Road Initiative to cut exchange rate risk and transaction cost for trade and investment, said a senior central bank official on Wednesday.

Chen Yulu, deputy governor of the People's Bank of China, said China will use both bilateral and multilateral financial cooperation platforms and more flexible financial service policies to further facilitate trade and investment along these two trading routes.