Central Banks of Chile and China sign memorandum of understanding
Bancos Centrales de Chile y China firman memorándum de entendimiento
Intel ID : 225610
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The Central Bank of Chile and the People's Bank of China have signed a memorandum of understanding (MoU), reported the Central Bank of Chile with the speech given by board member, Sebastián Claro, during the China-Chile Business Council held on 26 May, 2015. The MoU stipulates the financial cooperation and integration of the two countries, which includes the use of the official Chinese currency, the renmibi (RMB), as a means of payment in foreign trade between Chile and China. According to the memorandum, the People's Bank of China will also appoint an RMB clearing bank in Chile to allow payments and transfers between the two countries without resorting to the offshore currency market. The banks also signed a RMB/CLP swap agreement, which will allow them to guarantee the availability of their counterpart's currency in their country. China has also given Chile an initial RMB 50bn for qualified foreign institutional investors to be able to invest directly in China's stock market.
(content in spanish)
El Banco Central de Chile y el Banco Popular Chino han firmado un memorándum de entendimiento (MoU), ha informando el Banco Central de Chile con el discurso dado por el miembro del consejo, Sebastián Claro, el 26 de mayo de 2015 en la reunión del consejo de negocios China-Chile. El MoU estipula la cooperación e integración financiera de los dos países, que incluye la utilización de la moneda ofical china, el renmibi (RMB), como medio de pago en el comercio internacional entre Chile y China. En este marco, el Banco Popular Chino designará un banco compensatorio de RMB en Chile para posibilitar la realización de pagos y transferencias entre los dos países sin recurrir al mercado de divisas offshore. Los bancos también han firmado un acuerdo de línea swap RMB/CLP, que les permitirá asegurar la disponibilidad en su país de la moneda de la contraparte. China también le ha otorgado a Chile una cuota inicial de RMB 50bn para que los inversores institucionales extranjeros calificados puedan invertir directamente en el mercado de valores chino. |
Relevant Documents
| Other | 26 May 2015 | Banco_Central_de_Chile_discurso_2015.pdf | ES |
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| Intel ID | 225610 | |
| Value | ND | |
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25.01.02 Central Banking 25 Financial Services / 25.01 Banking & Investment |
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