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It is time for China authorities to.....>

CHINA PRESS
CHINA PRESS: It is time for China authorities to study and build yuan pricing
mechanisms and market rules for commodities trade, Pan Hongsheng, deputy
secretary of the monetary policy committee at the People's Bank of China, said
Monday at a forum at Hangzhou, the Shanghai Securities News reported Tuesday.
Commercial banks should provide effective financial products to deal with
exchange-rate risks in a bid to meet the needs of commodities trade priced in
yuan, Pan said. China will continue to encourage use of the yuan in cross-border
trade and investment, push the convertibility of the capital account at a proper
pace and optimize the yuan formation mechanism, Pan said. (Shanghai Securities
News)

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