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China, Chile sign currency swap pact

Updated: May 26,2015 8:43 AM

Premier Li Keqiang announced that China and Chile have signed a multi-billion US dollar currency swap pact that makes Santiago the first place for renminbi clearing in South America, and China agreed to grant 50 billion yuan ($8.1 billion) to qualified foreign industrial investors in Chile.

He made the announcement at a joint press conference with Chilean President Michelle Bachelet following their talks at the presidential residence in Santiago on May 25. He said that such cooperation in finance between the two countries makes Chile an important platform of China-Latin America capacity cooperation.