China to promote freer yuan trades

Beijing will allow some trade with neighbouring countries to be settled in yuan, the Chinese currency, rather than in the dollar or the euro.

The move to liberalise the convertibility of the Chinese currency was announced last week as part of a larger package of measures designed to help exporters hit by the global downturn.

Currently, most of China's foreign trade is settled in US dollars or the euro, leaving exporters vulnerable to exchange-rate fluctuations.

Officials have declined to say whe

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: