China, Belarus sign currency swap agreement

China's central bank on Monday said it had signed a currency swap agreement, valued at 7 billion yuan (1.15 billion U.S. dollars), with the Belarus central bank.

The three-year agreement can be extended subject to the agreement of both sides, the Chinese central bank said in a statement on its website.

The deal aims to facilitate trade and investment as well as boost economic development on both sides, the statement said.

To promote international use of the yuan, China has signed currency swap agreements with more than 20 countries and regions since the onset of the global financial crisis in late 2008. Endi