National Bank of Austria to invest in renminbi-denominated assets

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The National Bank of Austria on Thursday signed an agreement with the People's Bank of China to allow Austria to invest via the Chinese central bank in renminbi-denominated assets.

A joint statement from both central banks said that the agreement was based on the "excellent, long-lasting contacts" between them. The governors of the two central banks, Zhou Xiaochuan and Ewald Nowotny, met in Beijing to finalise the agreement, hailed as "important" in the statement.

This is the first agreement of

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