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Currencies

Chinese central bank chief highlights $550bn currency swap ‘safety net’

BOAO, China (Reuters) -- China's central bank will continue to promote currency swaps and strengthen monetary cooperation with Asian economies to maintain regional financial stability, the bank's governor said on Wednesday.Bilateral currency swaps can facilitate trade and investment and are a useful addition to the global financial safety net, Gov. Pan Gongsheng told the annual gathering of the Boao Forum for Asia."Bilateral currency swaps can provide emergency liquidity support in times of turmoil in international financial markets and banking crises in some countries," he said.The central bank has signed bilateral local...