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PBOC offers swap lines for global clout

The credit facilities are intended to spur trade and promote financial stability, says the central bank
Thursday, June 8, 2017 - 05:50

Hong Kong

CALL it monetary diplomacy. When China's central bank renewed a US$2.2 billion credit facility with Mongolia earlier this year, the deal gave a lifeline to a struggling neighbour heading for an International Monetary Fund (IMF) bailout.

The arrangement is the latest

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