2015-02-13

Yuan Internationalization Continues

China eases rules on foreign banks' yuan trades
China has made it easier for foreign banks without full yuan business licenses to buy or sell foreign currencies against the yuan, its foreign exchange regulator said on Thursday.

Under the rules issued by the State Administration of Foreign Exchange (SAFE), foreign banks that have not yet started a yuan business in China will be allowed to open special yuan accounts for currency dealings with their clients.

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