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MNI POLICY: PBOC to Promote International Use of Yuan

MNI (Sydney)

The People's Bank of China (PBOC) will promote the use of yuan in trade and investment and improve cross-border policies, the central bank said following a meeting hosted by Vice Governor Pan Gongsheng on Wednesday.

The PBOC will work with relevant ministries to focus on fulfilling the needs of the real economy and smooth policy transmission to provide strong support for stabilising the Chinese economy, according to a statement on the bank's website.

Financial institutions should improve the level of financial services, provide more convenient and efficient cross-border yuan products and services, further improve the efficiency of cross-border and offshore yuan clearing, as well as promote the healthy development of enterprises, the statement read.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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