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China Confidential - Premium Investment Insight
23 March 2012

What happened: On March 22, the People's Bank of China signed a three-year Rmb200bn ($31bn, £20bn, €24bn) currency swap deal with the Reserve Bank of Australia, marking another step forward in promoting greater usage of the renminbi offshore. This latest deal takes the total value of the People's Bank China's swap agreements with 15 other central banks to more than Rmb1,500bn (see table 1). The deal with the Reserve Bank of Australia, which is the second-largest after that which has been agreed with the Hong Kong Monetary Authority, aims at bolstering opportunities to settle bilateral trade in renminbi.

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CHINA CONFIDENTIAL

An integrated research service from the Financial Times that provides premium, exclusive analysis and predictions on China investment themes.

Using a dedicated FT team of specialists in China and the UK, it taps Chinese sources from the grassroots to the political elite to forecast key trends and issues. It conducts proprietary research to supply its own insights into industry trends and consumer sentiment. By filtering the work of the best Chinese analysts and academics, it keeps you current on key debates as they unfold inside mainland China. Its broad aim is to help the professional investor navigate through the Chinese investment landscape.

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