Free Trial

China should further advance the........>

CHINA PRESS: China should further advance the yuan's use in countries nearby,
specially those aligned with its One Belt One Road initiative, said Yang
Xiaoping, head of the PBOC Kunming Division to Financial News, according to the
newspaper Wednesday. 
  - FX restrictions and problems hindering cross-border renminbi settlements
still exist: Yang; 
  - China should encourage domestic financial institutions to cooperate with
banks in these countries to establish more branches on either side, and to
enhance the mutual flow of renminbi: Yang; 
  - China should accelerate signing agreements on cooperation of currency use
with these countries. It should establish a currency trading center in Yunnan
province for transactions of non-major international reserve currencies, to
advance internationalization of the yuan; Yang.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.