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China Daily | Updated: 2016-05-20 07:29
Overseas banks to start yuan trade settlement
The first batch of overseas commercial banks has registered to directly trade yuan used for overseas trade settlement and can begin doing so on Friday, the foreign exchange market regulator said. Approved overseas commercial banks include CTBC Bank, Taipei Fubon Bank, Standard Chartered and Citibank Hong Kong Ltd. Foreign central banks have already been approved to trade directly in the country's massive interbank forex market.
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