BEIJING—China’s central bank said Monday that it is allowing direct trading between the yuan and the Swiss franc, in a bid to boost bilateral trade and investment. The People’s Bank of China said in a statement that the two currencies can be traded directly on the China Foreign Exchange Trade System, the interbank-trading and foreign-exchange division of the central bank. Before it, traders have had to exchange the currencies through the U.S. dollar, which could add to transaction costs. ...
China continues its strategy of pushing for reserve - currency exchanges at the border by boosting the yuan 's global trade with direct trading with the Swiss franc , thereby bypassing conversion into the US currency ; the China Foreign Exchange Trading System confirmed the link to start on Tuesday . " This is an important step in strengthening bilateral economic and trade connections between China and China " , quoted a spokesman for the People 's Bank of China .