Another Step Offshore for the CNY |
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Authors: | Kelvin Lau |
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Affiliation: | Standard Chartered Bank,Hong Kong Regional |
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Abstract: | There is every reason to celebrate the first anniversary of the Chinese yuan(CNY)trade settlement pilot scheme('the scheme').CNY settlement volumes have grown in leaps and bounds in recent months,albeit from a very low base.The scheme's scope was further expanded in June-it now includes 20provinces,which together account for95% of China's exports. |
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