LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Japan, China seek to restart, expand forex swap line in sign of warming ties

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Aug 22, 2018
06:16 am
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Japan and China are in talks to resume a currency swap arrangement between their central banks and expand it roughly 10-fold, people with direct knowledge of the matter said, in a sign of warming ties between Asia`s two biggest economies.

The previous arrangement was allowed to expire in September 2013 amid a low point in Sino-Japanese ties. Relations had soured in recent years due to territorial disputes and tensions over Japan`s wartime history.

Two Japanese officials with direct knowledge of the deal said China and Japan have begun discussing a resumption of the arrangement, with one saying the scale would be about 3 trillion yen ($30 billion), far bigger than the previous $3 billion line.

In case of financial turmoil, the swap could act as a safety net by providing yuan to Japanese banks operating in China and yen to Chinese businesses.

Chinese Premier Li Keqiang flagged the proposed resumption of the swap agreement with Japan in May. One Japanese source said Beijing was eager to resume the swap arrangement.

Kyodo News said on Tuesday a deal would be announced at a financial dialogue to be held in Beijing this month, but a Japanese finance ministry official said it was more likely that it would come at an upcoming Japan-China summit.

Tokyo is trying to arrange a meeting between Prime Minister Shinzo Abe and Chinese President Xi Jinping in October and wants to use the renewed swap agreement as a symbol of cooperation, Kyodo said, without citing sources.

The People`s Bank of China did not immediately respond to a faxed request for comment on Tuesday.

The swap was originally launched in March 2002 as part of multilateral currency swap lines known as the Chiang Mai Initiative, which was established in response to the Asian financial crisis in the late 1990s.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

NEET 2021 exam: Students don't miss to check the latest update on exam dates, eligibility criteria, registration process and all you need to know before appearing in the exam!

PPF vs NPS Calculator: Here is what will turn you into a crorepati and much more - Money Tip EXPLAINED

Shilpa Shetty signs as fitness ambassador of nutrition brand

CBSE Board Exam 2021 date sheet revised for class 10 class 12 board exams: Class 12 Physics exam postponed, check here syllabus

MTAR IPO: Know allotment finalisation status, listing date and how to check subscription of shares

Stocks in Focus on March 8: Easy Trip planners IPO, Adani Ports, BEML to Religare; here are the 5 Newsmakers of the Day

Announced LIVE: JEE Main Result DECLARED - Here is how to check

EPFO Account: Your employer no longer has this power over you - employees can do it now like THIS

PUBG Mobile 1.3 global update: APK download link, check expected release date and more!

7th Pay Commission: After family pension, Modi government BIG relief on DA for central government employees likely soon, pensioners to benefit too

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved