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BEIJING, May 14 (Xinhua) -- China's local government debt swap is positive for the real economy but "not QE" by the central bank, Bank of America Merrill Lynch said in a research note on Thursday.

Jiangsu VaporMax Laceless Solde , an eastern province, will be the first to auction local government bonds this year. The bonds are expected to be worth 52.2 billion yuan (8.3 billion U.S. dollars), with 30.8 billion yuan set to pay debts that are due this year.

New rules by central authorities allowing private placement in the debt swap could help lower the debt burden on local governments Air Max 97 Femme Solde , help private sector funding needs and lower overall funding costs in the economy, according to the research.

Alleviating funding pressure on local governments could support infrastructure investment and stabilize growth, Bank of America Merrill Lynch said.

Contrary to the characterization of the debt swap as a Chinese version of the quantitative easing Air Max 97 Homme Solde , Bank of America Merrill Lynch said this is not QE by the People's Bank of China, as the central bank will not purchase those local government bonds.

Moreover, there is no indication that the central bank would announce a specific relending program to match the size of the local government debt swap Air Max 97 Bleu Solde , Bank of America Merrill Lynch said.

BEIJING, Aug. 9 (Xinhua) -- The following are the central parityrates of the Chinese currency renminbi, or the yuan Air Max 97 Or Solde , against 23major currencies announced on Wednesday by the China ForeignExchange Trade System:

Currency Unit Central parity rate in yuan

U.S. dollar 100 670.75

Euro 100 788.60

Japanese yen 100 6.0938

Hong Kong dollar 100 85.720

British pound 100 870.97

Australian dollar 100 529.46

New Zealand dollar 100 491.33

Singapore dollar 100 491.90

Swiss franc 100 689.50

Canadian dollar 100 529.40

Malaysian ringgit 63.889 100

Ruble 892.83 100

Rand 199.26 100

Korean won 16,852 100

UAE dirham 54.763 100

Saudi riyal 55.912 100

Hungarian forint 3,859.14 100

Polish zloty 54.102 100

Danish krone 94.39 100

Swedish krona 121.87 100

Norwegian krone 118.59 100

Turkish lira 52.651 100

Mexican peso 266.32 100

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