Tuesday, July 6, 2010

Analysis: China makes progress in turning yuan into global currency

China is moving systematically toward its goal of becoming a major force in the financial system by expanding the role of the yuan to become a global currency, according to Reuters. The nation extended a pilot program to allow importers and exporters to settle international transactions in the yuan. The government is creating opportunities to invest within China using the yuan, including yuan-denominated corporate bonds and insurance policies. Reuters

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