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 .
China continues its strategy of pushing for reserve-currency status at the IMF by boosting the yuan's global usage with direct trading with the Swiss franc, thereby bypassing conversion into the US dollar; the China Foreign Exchange Trading System confirmed the link will start on Tuesday. "This is an important step in strengthening bilateral economic and trade connections between China and Switzerland", said a spokesman for the People's Bank of China.