China, Serbia sign MoU on yuan clearing arrangements

File photo shows an exterior view of the People's Bank of China in Beijing, capital of China. (Xinhua/Peng Ziyang)

BEIJING, Dec. 11 (Xinhua) -- The People's Bank of China (PBOC) and the National Bank of Serbia have signed a memorandum of understanding (MoU) on establishing yuan clearing arrangements in Serbia, the PBOC said in a statement Monday.

The move will help enterprises and financial institutions of the two countries to use yuan for cross-border transactions and further promote bilateral trade and investment facilitation, it added.