WSJ: “The use of China’s yuan abroad is rising as Beijing slowly loosens its grip and allows a wider group of investors to buy the nation’s currency, stocks and bonds.
The offshore yuan in Hong Kong, where the currency is freely traded, is near the highest in a month partly because investors are taking advantage of a slight relaxation in rules on its capital markets. Last week, Beijing allowed Hong Kong units of Chinese banks and insurers, as well as Hong Kong-registered financial institutions, to invest in China’s stocks and bonds for the first time with yuan raised offshore.”
via Yuan Flows a More Freely as China Relaxes Controls – WSJ.com.
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