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Yuan settlement
By Maggie Zhang |
November 19, 2010, Friday
|
Print Edition
Print Edition
BANK of East Asia has completed the first settlement for yuan overseas direct investment since the trial was launched in the Xinjiang Uygur Autonomous Region in October.
Companies set up in Xinjiang are allowed to invest overseas with yuan. Previously, Chinese companies have to turn to the State Administration of Foreign Exchange to convert the yuan into overseas currencies first to make the overseas investment.
Companies set up in Xinjiang are allowed to invest overseas with yuan. Previously, Chinese companies have to turn to the State Administration of Foreign Exchange to convert the yuan into overseas currencies first to make the overseas investment.
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