Central Banking

China expands yuan cross-border settlement option to all exporters


The People's Bank of China today (March 2) announced it was allowing all companies qualified for foreign trade activities to carry out cross-border export settlement in yuan, reports the Chinese official Xinhua news agency. This means all exporters can now accept payment in the chinese currency.

The agency says the central bank had posted a statement on its website that offered the reason for the move as being to "meet market demand and make foreign trade more free and convenient".

China has

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