The People’s Bank of China on Friday said that it encouraged cross-border and overseas use of the renminbi (RMB) currency to settle accounts and boost investment.
It acknowledged that Chinese banks have been looking to trade in offshore RMB and that there was a growing need for foreign-funded companies in China to be able to transfer investment revenue overseas.
“Enterprises may use RMB for cross-border settlement in whatever foreign currency-based trade,” the PBOC said.
The central bank’s announcement comes part and parcel of the Beijing government’s efforts to increase foreign investment in China and facilitate ease of doing business there for domestic and foreign enterprises.
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http://thebricspost.com/china-central-bank-pushes-for-cross-border-rmb-use/#.WlEQfK6nGpo
Dollars? We don't need no stinking dollars !!!
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