BEIJING, Dec. 6 (Xinhua) – China's central bank, the People's Bank of China (PBOC) inked bilateral local currency swap agreement with the Monetary Authority of Macao (AMCM) Thursday.
The move, approved by the State Council, China's cabinet, is dedicated to maintaining the financial stability of the Chinese mainland and the Macao Special Administrative Region and supporting economic and financial development.
According to the PBOC, the currency swap agreement for 30 billion yuan or 35 billion pataca is effective for three years, with extension reserved upon permissions by both PBOC and AMCM. (Edited by Duan Jing, duanjing@xinhua.org)
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