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China's newly commissioned frigate conducts real-combat training at Yellow Sea

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China's newly commissioned frigate conducts real-combat training at Yellow Sea

2025-03-15 17:05 Last Updated At:18:37

China's first Type 054B frigate the Luohe, commissioned into the Chinese People's Liberation Army (PLA) Navy one month earlier, has recently conducted a live-fire combat training in the Yellow Sea.

The training started with frigate Luohe conducting navigation exercise under complex sea conditions. As the crew members worked closely to flexibly adjust the course and speed, the ship maintained the intended heading.

In response to a slew of simulated hostile situations, the crew members quickly rushed to their respective battle stations and the orders were given according to the battlefield situation.

Following the immediate activation of the air defense system, the secondary turrets accurately intercepted the incoming targets and then the main turrets began their naval firepower training.

The coordination formed a crossfire covering both short and long ranges, with the main turrets engaging in attacks while the Close-in Weapon System defending the ship against small targets from sea surface.

"The new equipment brought new challenges and new missions to us. We are responsible for and are confident in speeding up the formation of combat capabilities of the first Type 054B frigate through live-fire combat training," said Song Wei, a crew member.

Frigate Luohe was commissioned in the People's Liberation Army (PLA) Navy on Jan 22 at a military port in Qingdao, east China's Shandong Province.

The Luohe, designated hull number "545," has a displacement of approximately 5,000 tons. This new-generation frigate, independently developed and built by China, is noted for breakthroughs in stealth technology, combat command systems and firepower integration, with significantly enhanced overall performance.

China's newly commissioned frigate conducts real-combat training at Yellow Sea

China's newly commissioned frigate conducts real-combat training at Yellow Sea

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China, Brazil renew currency swap agreement

2025-05-14 14:13 Last Updated At:14:37

The central banks of China and Brazil on Tuesday renewed a bilateral currency swap agreement with a total value of 190 billion yuan (about 26.39 billion U.S. dollars), or 157 billion reais.

The agreement is valid for a period of five years and can be renewed upon mutual consent, according to the agreement released by the People's Bank of China (PBOC), China's central bank.

The move will help expand the use of currencies of the two countries, facilitate bilateral trade and investment, and help stabilize the financial markets.

The bilateral currency swap is a financing arrangement in which a country's central bank exchanges its own currency for another country's currency to obtain liquidity in the counterparty's currency. At maturity, the parties exchange back the principal amounts. It is generally used to maintain financial market stability.

By the end of the first quarter of 2025, PBOC had signed bilateral currency swap agreements with the central banks or monetary authorities of 42 countries and regions.

Currently, 32 such agreements remain in effect, covering major economies in key regions across six continents. The total scale of these swap agreements amounts to 4.3 trillion yuan (about 596.70 billion U.S. dollars).

China, Brazil renew currency swap agreement

China, Brazil renew currency swap agreement

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