China forex market advances with launch of RMB e-trading
NEWS
The portal enabled trading of RMB versus US dollar, yen, Hong Kong dollar, euro and sterling last Monday (April 9).
"Since China carried out exchange rate reform in July 2005, the foreign exchange market – an important part of China's financial reform – has seen steady development, and the exchange rate formation mechanism is being perfected," said Wang Wenhua, deputy general manager of treasury and capital markets for Citic Bank in Beijing, adding: "We believe the move will promote healthy
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