On 26 June 2012, Governor of the National Bank of Ukraine Sergiy Arbuzov met Mr. Zhou Xiaochuan, Governor of the People’s Bank of China.

The meeting was held during a visit by the Ukrainian delegation headed by Governor of the National Bank of Ukraine Sergiy Arbuzov to the People's Republic of China.

During the meeting, the sides discussed a number of issues on bilateral cooperation in the banking sphere. Upon concluding the meeting, the solemn ceremony of signing a bilateral currency swap agreement between the National Bank of Ukraine and the People’s Bank of China was held.

The signing of this agreement is an important step towards promoting wider use of national currencies in conducting international settlements, in particular, with one of Ukraine’s largest trading partners. The move is expected to offer opportunities to improve settlements between Ukrainian and Chinese companies, boost bilateral trade and investments between Ukraine and the People’s Bank of China.