Swiss turn eagerly to renminbi
By Zhao Yinan in Davos, Switzerland and Zhao Shengnan in Beijing | China Daily | Updated: 2015-01-22 07:33
Chinese bank awaits approval to establish operations in Zurich, a world finance center
After ditching its euro cap, Switzerland courted the yuan with renewed vigor as it signed key financial deals with China on Wednesday.
Zurich received 50 billion yuan ($8 billion) as its Renminbi Qualified Foreign Institutional Investors quota, which will allow investors in Switzerland's financial capital to invest renminbi directly into Chinese financial markets.
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