北京5月13日电 (记者 魏晞)13日消息，经中国国务院批准，中国人民银行与新加坡金融管理局近日续签了双边本币互换协议。
BEIJING, May 13 (Reporter Wei Sheng) On May 13, with the approval of the State Council of China, the People’s Bank of China and the Singapore Monetary Authority recently renewed the bilateral local currency swap agreement.
This is aimed at promoting bilateral trade and investment to develop the economies of the two countries and providing short-term liquidity for the market to stabilize the financial market. The scale of the agreement is 300 billion yuan/61 billion Singapore dollars. The agreement is valid for three years and can be extended by mutual agreement.
This is the third renewal of the bilateral local currency swap agreement between China and Singapore. On July 23, 2010, the People’s Bank of China first signed 150 billion RMB/about 30 billion Singapore dollars with the Singapore Monetary Authority, and then renewed and expanded to 300 billion RMB/60 billion Singapore dollars for the first time in 2013. At the second renewal in March 2016, the swap size remained unchanged from the previous one.
According to the data of the People’s Bank of China, as of the end of 2018, under the bilateral local currency swap agreement signed between the People’s Bank of China and the foreign monetary authorities, the balance of RMB used by the overseas monetary authorities was 32786 million yuan, and the balance of RMB used by the People’s Bank of China was 471 million US dollars, which played a positive role in promoting bilateral trade and investment. (end)