ANNOUNCEMENT 02 Apr 2009In April 2009, the government of China announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
WTO. (November 2010). REPORT ON G20 TRADE MEASURES. Available at http://www.wto.org/english/news_e/news10_e/igo_04nov10_e.htm
China established currency swaps (Y 650 billion (US$95.2 billion)), to facilitate trade with: Argentina, Belarus, Hong Kong China, Indonesia, South Korea, and Malaysia.
A currency swap is a foreign-exchange agreement between two parties to exchange aspects (namely the principal and/or interest payments) of a loan in one currency for equivalent aspects of an equal in net present value loan in another currency.