The People's Bank of China and the Central Bank of Brazil Sign a Memorandum on the Establishment of RMB Clearing Arrangements in Brazil

Recently, the People's Bank of China and the Central Bank of Brazil signed a memorandum of cooperation on the establishment of RMB clearing arrangements in Brazil. The establishment of the RMB clearing arrangement in Brazil will help Chinese and Brazilian enterprises and financial institutions use RMB for cross-border transactions, and further promote bilateral trade and investment facilitation.