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Currency deal ushers in a new era

Updated: 2012-05-30 07:58
By Wang Xiaotian in Beijing and Gao Changxin in Shanghai ( China Daily)

Direct trading of yuan and yen will boost ties between China and Japan

China and Japan will start direct trading of their currencies on Friday in a move to boost trade ties between Asia's two biggest economies.

This will be the first time that China has allowed a major currency, apart from the US dollar, to trade directly with the yuan.

Currency deal ushers in a new era