The move sparked some speculation and debate, with some arguing that it was a “precautionary measure” against the US cutting off China’s access to SWIFT. Photo: Shutterstock
The move sparked some speculation and debate, with some arguing that it was a “precautionary measure” against the US cutting off China’s access to SWIFT. Photo: Shutterstock
Economy /  China Economy

China’s SWIFT joint venture ‘defensive move’ against US refuted by former bank executive

  • The People’s Bank of China last week announced a newly established joint venture with Belgium-based SWIFT financial messaging service and four Chinese institutions
  • Concerns have been raised that the United States could cut China off from the US dollar-dominated SWIFT system amid souring relations over Xinjiang and Hong Kong

Cissy Zhou
Cissy Zhou

Updated: 8:34am, 31 Mar, 2021

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The move sparked some speculation and debate, with some arguing that it was a “precautionary measure” against the US cutting off China’s access to SWIFT. Photo: Shutterstock
The move sparked some speculation and debate, with some arguing that it was a “precautionary measure” against the US cutting off China’s access to SWIFT. Photo: Shutterstock
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