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Expand Local Currency Trade Settlement - President Xi

CHINA PRESS
MNI (BEIJING)

China will promote the use of local currency trade settlement among members of the Shanghai Cooperation Organisation (SCO), according to President Xi Jinping. Speaking at the SCO summit, Xi said members should focus on practical cooperation to accelerate the economic recovery, oppose protectionism and resist decoupling. China will strengthen the high-quality connections of the Belt and Road Initiative and ensure stability and smoothness in the regional industrial supply chain. Xi said Beijing wants to expand cooperation on sovereign digital currencies and promote the establishment of an SCO development bank. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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