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Zambia’s yuan deal
Source: Xinhua |
September 30, 2015, Wednesday
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Print Edition
Print Edition
CHINA’S central bank yesterday said it had signed a memorandum of understanding on yuan clearing with Bank of Zambia, its Zambian counterpart.
China will soon designate a yuan clearing bank in Zambia, the People’s Bank of China said in a statement.
The move will facilitate yuan-denominated cross-border transactions for companies and financial institutions in the two countries and boost bilateral trade and investment, according to the PBOC.
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