Brazil and China Agree To Trade in Yuan

China’s Vice Minister of Commerce Guo Tingting announced today that China and Brazil have concluded an agreement to trade in yuan. “An agreement on settling payments in yuan has been signed with Brazil, which greatly facilitates our trade. We are planning to expand cooperation in the field of food and mineral extraction, and to search for a possibility of exporting goods with high added value from China to Brazil and from Brazil to China,” Guo said at a business forum in Beijing, as quoted by a Brazilian newspaper.