BEIJING, March 18 (Xinhua) -- China's central bank announced on Tuesday it has approved direct trading between China's currency, the yuan, and the New Zealand Dollar (NZD).
The start of direct transactions between the two currencies marks a significant step forward in economic and trade relations between China and New Zealand, said the People's Bank of China, the country's central bank.
It also said the move will boost the use of the two currencies in bilateral trade and investment and be conducive to enhancing bilateral financial cooperation.
The China Foreign Exchange Trading System said that upon authorization from the central bank, direct trading between the yuan and NZD will be launched on the inter-bank foreign exchange market starting on Wednesday.
China-NZ cooperation pioneering, exemplary: Xi
BEIJING, March 19 (Xinhua) -- Cooperation between China and New Zealand is pioneering and exemplary, said Chinese President Xi Jinping as he met with visiting New Zealand Prime Minister John Key here on Wednesday.
During the meeting at the Great Hall of the People, Xi highlighted agreements between the two countries on direct trading of currencies, saying that he believes Key's China tour will instil new vitality into the bilateral relationship. Full story
Direct trading between RMB, NZ dollar begins
BEIJING, March 18 (Xinhua) -- Chinese Premier Li Keqiang and visiting New Zealand Prime Minister John Key announced the beginning of direct trading between the RMB and NZ dollar in Beijing on Tuesday.
Li said direct trading would help both countries to reduce costs for currency exchange and facilitate bilateral trade and financial cooperation. Full story
New Zealand finance chiefs welcome Chinese currency trade agreement
WELLINGTON, March 19 (Xinhua) -- New Zealand finance officials on Wednesday welcomed an agreement allowing direct trading of the New Zealand and Chinese currencies, saying they would build on the growing bilateral trade and investment ties.
Finance Minister Bill English said the agreement announced by New Zealand Prime Minister John Key and Chinese Premier Li Keqiang in Beijing late Tuesday was a significant and welcome step forward in the economic relationship with China. Full story