Dubai – Mubasher: United Arab Emirates renewed on Monday a local currency swap agreement with China for another three years, with an exchange value of 35 billion Yuan.
The agreement is aiming at boosting bilateral trade and direct investments for economic development in the two countries.
Central Bank of China said that UAE, under the agreement, will be included in the Qualified Foreign Institutional Investor program with a stake of 50 billion Yuan.
UAE and China also signed a number of agreements and memorandums of understanding in the presence of Sheikh Mohammad Bin Zayed, Ruler of Abu Dhabi.
