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News BEIJING TO ALLOW MORE TRADING IN RENMINBI

BEIJING TO ALLOW MORE TRADING IN RENMINBI BEIJING TO ALLOW MORE TRADING IN RENMINBI

Submitted by brooks | 5 months ago

VisitCHN - China has taken another step towards internationalising its currency and reducing reliance on the US dollar with the announcement of new rules to allow select companies to invoice and settle trade transactions in renminbi.
The regulations released by the People’s Bank of China (PBoC), the country’s central bank, will allow approved companies to settle transactions through

Tags: CHINA

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brooks 5 months ago

To many minds in China the US dollar’s time is almost up, the eurozone suffers from political paralysis and a too-conservative central bank, while two decades of economic stagnation and a shrinking population do the yen no favours

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