China has given institutional investors in Chile an RMB50 billion (US$8.06 billion) quota allowing the firms to buy stocks and bonds with yuan holdings, Caixin reported, citing a statement from the two countries’ central banks. Chile is the first country in Latin America to join the program, and China Construction Bank was appointed as the yuan clearing bank there, the first of its kind in the region. The countries also signed an RMB22 billion currency swap deal effective for three years to facilitate trade and investment.
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