Story thread · 10 reports / 6 sources

China expands currency swap with Egypt as trade ties reach new heights

scmp.com · 10dShare

Egypt’s expanded currency swap with China may help bring the yuan into wider use in trade and investment, but experts say any reduced reliance on the US dollar will not happen in a hurry. Chinese President Xi Jinping and his Egyptian counterpart Abdel-Fattah el-Sisi this week backed greater use of their currencies, while linking closer financial ties to plans for new factories, energy projects and digital infrastructure. A joint statement released on Wednesday during Xi’s state visit to Cairo...

First report: Xi's Cairo visit: China, Egypt eye mutual gains as ties move beyond trade, experts say — aa.com.tr, 13d