Bank of China: Beijing to steadily expand cross-border use of yuan in 2021


Source: rt.com rt.com

Key Topics in this News Article:

News Snapshot:

Bank of China: Beijing to steadily expand cross-border use of yuan in 2021 According to the regulator, the Regional Comprehensive Economic Partnership (RCEP) agreement is expected to further boost trade ties between the nations in the Asia-Pacific region, thus promoting more opportunities for the use of the yuan in mutual settlements and investment activities. [Also on rt.com China’s yuan strengthens against US dollar to three-month maximum] The pact was clinched in late 2020 at a virtual summit of the Association of Southeast Asian Nations hosted by Vietnam.Based on rapidly developing yuan-denominated commodity trade settlements, the Chinese government is reportedly seeking...