Yuan clearing in Sydney
CHINA and Australia yesterday signed a deal to launch a yuan clearing service in Sydney, in another push for use of the Chinese currency in international business.
The two countries’ central banks, the People’s Bank of China and the Reserve Bank of Australia, agreed to setting up a clearing bank to handle transactions in yuan.
Under the agreement, China will grant Australian banking institutions a 50 billion yuan (US$8.2 billion) quota under the Qualified Foreign Institutional Investors program.
So far this year, China has reached agreements with Germany, Britain, France, Luxembourg and South Korea to open yuan trading hubs.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.