China, Singapore renew currency swap deal

BEIJING, July 14 (Xinhua) -- China's central bank said Thursday that it had renewed a bilateral currency swap agreement with the Monetary Authority of Singapore.

The deal has a size of 300 billion yuan (about 44.6 billion U.S. dollars), or 65 billion Singapore dollars. It will be valid for five years, according to the People's Bank of China (PBOC).

The PBOC said that the renewal would help deepen bilatera