Story perspectives

China Proposes Currency Swap with Japan, South Korea

10/22/2025

49 7

Summary

Story summary

China seeks trilateral currency swap with Japan and South Korea to strengthen region's financial safety net amid U.S. President Donald Trump’s tariff war.
Pan Gongsheng, governor of the People's Bank of China, discussed the deal with counterparts during IMF and World Bank meetings in Washington.
South China Morning Post reported that feasibility remains uncertain, including alignment with the Chiang Mai Initiative.
Further discussions may occur at ASEAN and APEC summits.

1 of 1

Story summary

China seeks trilateral currency swap with Japan and South Korea to strengthen region's financial safety net amid U.S. President Donald Trump’s tariff war.
Pan Gongsheng, governor of the People's Bank of China, discussed the deal with counterparts during IMF and World Bank meetings in Washington.
South China Morning Post reported that feasibility remains uncertain, including alignment with the Chiang Mai Initiative.
Further discussions may occur at ASEAN and APEC summits.