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China’s central financial institution signed a cooperation memorandum with the central financial institution of the Republic of Kazakhstan to determine Chinese language yuan clearing preparations within the Central Asia nation, the Individuals’s Financial institution of China stated Tuesday.
The transfer will profit enterprises and monetary establishments in China and Kazakhstan, permitting them to make use of yuan for cross-border transactions and additional selling bilateral commerce and funding, the Individuals’s Financial institution of China (PBOC) stated in an announcement.
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