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Norms for cross-border yuan loans announced

The Guangzhou branch of the People's Bank of China has issued new regulations covering the pilot cross-border renminbi loan business in the new areas of Nansha and Hengqin in Guangdong province. Companies newly registered in the two new areas with actual operation or investment and Guangdong businesses involved in key projects in the two areas will be allowed to receive renminbi loans from banks in Hong Kong and Macao.