The Peoples Bank of China (PBoC) announced today that with effect from 20 June 2016, the South African rand and the Chinese renminbi can be traded in the Chinese interbank market on a bilateral basis.The South African Reserve Bank welcomes this development and believes that the introduction of this bilateral foreign exchange trading cross will reduce the cost of the two countries trading relationship and promote further trade and investment. It will also boost greater cooperation and strengthen the economic and financial relationship between China and South Africa. For further information please refer to thePBoCwebsite. Contact:Candice Jeffreys+21 12 313 4209+21 82 069 9421