Cross-border trade boost for renminbi

PBOC asks banks to let foreign firms freely remit yuan profits, dividends

China will allow foreign investors to freely remit their yuan-denominated profits and dividends and pledged to remove all barriers in cross-border trade and investment, the central bank said on Friday.

The People's Bank of China said the use of renminbi for cross-border trade and investment will help create a sound business environment and support the country's Belt and Road Initiative.