China's central bank announced Monday that it has signed a currency swap deal worth 35 billion yuan (about 5.7 billion US dollars) with the central bank of Qatar.
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The three-year deal could be extended upon agreement by the two sides,said a statement on the website of the People's Bank of China (PBOC).
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Also on Monday, the two sides signed a memorandum of understanding on Renminbi clearing settlement in Doha. China agreed to extend the RMB Qualified Foreign Institutional Investor scheme to Qatar, with an initial quota of 30 billion yuan.
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The deal marked a new step forward in financial cooperation between the two countries, and will facilitate bilateral trade and investment to help maintain regional financial stability, the statement said.
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The Emir of Qatar, Sheikh Tamim Bin Hamad al-Thani, is currently on a state visit to China at the invitation of Chinese President Xi Jinping.