China, Australia mulling direct currency trading
Updated: 2012-11-12 09:36
(Xinhua)
|
|||||||||
BEIJING - Chinese and Australian central banks are considering launching to launch direct trading between the yuan and the Australian dollar, China's central bank governor said Sunday.
If the deal is reached, the Australian dollar would be the third major currency allowed to be traded directly against the Chinese currency, following the US dollar and the Japanese yen.
Other major currencies that have been used as intermediaries for the China-Australia currency trading are sometimes instable, said Zhou Xiaochuan, governor of the People's Bank of China.
The bilateral trade, investment and tourism relations between China and Australia have developed rapidly in past years, resulting in growing demand for the direct currency trading, Zhou told reporters at a group interview on the sidelines of the 18th National Congress of the Communist Party of China.
The Chinese and Australian central banks support the direct trading, said Zhou, adding that such a direct trading would be "a good thing, a matter of course and a choice that respects the market."
China announced in May the direct trading of its currency against the Japanese yen, bringing the yuan one step closer to a truly global currency.
China has been taking steps to internationalize the yuan, facilitating the use of the yuan in cross-border trading and investment, and signing currency swap agreements worth at least 1.5 trillion yuan ($238 billion) with a dozen of countries.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |