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Egypt and China signed multiple memoranda of understanding to enhance financial cooperation, including facilitating transactions in yuan, during a visit by Chinese Premier Li Qiang to Cairo. The agreements involve improved electronic payment systems, a currency swap discussion, and efforts to boost bilateral trade, which reached $17.4 billion last year, while also aiming to attract more Chinese investment in sectors like green energy and tourism.
Explain It To Me Like I’m 5: Egypt and China made new agreements this week to help Egyptian businesses use Chinese money for trading, and they talked about working together more closely in the future.
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