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China to expand yuan cross-border financing and investing channels

Published 08/10/2016, 03:24 AM
Updated 08/10/2016, 03:30 AM
© Reuters.  China to expand yuan cross-border financing and investing channels

BEIJING (Reuters) - China's will further expand yuan cross-border financing and investment channels, and will further expand cross-border usage of the yuan under the current account, the central bank said on its website on Wednesday. China will also increase the amount of yuan used as a reserve currency, the People's Bank of China said in a report on the internationalization of the yuan.

The yuan is set to be included in the IMF's special drawing rights basket for the first time in October.

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