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Yuan clearing
Source: Xinhua |
December 12, 2012, Wednesday
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Print Edition
Print Edition
THE Bank of China's Taipei branch has been designated as the clearing bank for yuan transactions in Taiwan, the People's Bank of China said yesterday. The decision was made after a relevant appraisal process and in accordance with a cross-Strait currency clearing memorandum, according to the PBOC.
Under the memorandum signed on August 31, the Chinese mainland and Taiwan will each designate a clearing bank to carry out currency settlements and liquidations for the other side.
Under the memorandum signed on August 31, the Chinese mainland and Taiwan will each designate a clearing bank to carry out currency settlements and liquidations for the other side.
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