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China to set up a trial zone for yuan convertibility
BBC – China is to set up a special business zone to experiment with the yuan’s convertibility, the latest step in its moves to open up its capital markets. The Qianhai zone will be established in the southern city of Shenzhen, just across the border from Hong Kong. Beijing has been seeking to open up its capital markets to try to trigger a fresh wave of economic growth. It has also been pushing for a more global role for its currency. Read article
Tags: Asia, financial system
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