World News

China’s central bank signs currency settlement agreement with Laos

BEIJING (Reuters) – China’s central bank said on Thursday that it has signed a currency agreement with Laos, allowing direct local currency settlement for transactions under the current and capital accounts.

The agreement was aimed at boosting financial cooperation between the two countries and promoting trade and investment, said the People’s Bank of China (PBOC) in a statement on its website.

(Reporting by Lusha Zhang and Se Young Lee)