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China’s yuan trade system to open branches in London, New York
June 12, 2016 by publisher · Leave a Comment
China's state-owned currency marketplace said on Sunday it was preparing to open branches in London and New York as part of efforts to promote the yuan's global status. The China Foreign Exchange Trade System (CFETS), a subsidiary of China's central bank, said in a statement that by expanding its network offshore, it aims to serve more overseas institutions and become a “main trading platform and pricing center” for the yuan globally. China has been gradually loosening its capital controls to allow …
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China’s yuan trade system to open branches in London, New York