Chinese, Brazilian central banks promote cooperation on local currency business

The central banks of China and Brazil discussed measures to support companies in both countries opening local-currency accounts in Beijing on Tuesday, according to the People's Bank of China. The central banks also explored expanding the use of their bilateral currency swap and studied the listing of direct trading between the Chinese yuan and the Brazilian real.

Discussions have expanded to include support for a "China-Brazil Bond Connect" pilot scheme and welcoming the issuance of sovereign Panda bonds by the Brazilian government in the Chinese market.