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China opens interbank bond market
Date:2010/8/19      View:902
 
The reported that China is to allow foreign central banks and overseas lenders to invest in its domestic interbank bond market, in a move to "encourage cross-border renminbi trade settlement" and "broaden investment channels for renminbi to flow back (to China)."

Beijing is trying to encourage use of the yuan in trade deals as part of a long-term plan to promote it as a reserve currency and reduce China's exposure to the US dollar, which is currently used for most Chinese trade.
 
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