June 15, 2018 / 9:46 AM / a year ago

China central bank issues rules on cross-border use of yuan in trade and investment

FILE PHOTO - People walk past the headquarters of the People's Bank of China (PBOC), the central bank, as two paramilitary police officials patrol around it in Beijing November 20, 2013. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) - China’s central bank on Friday issued rules it said would promote the cross-border use of yuan in trade and investment, part of efforts to push ahead yuan internationalisation.

Participants including onshore agent banks, offshore clearing banks and offshore participating banks who are involved in the business should stick with macro prudential policy and should roughly keep flat positions in yuan purchase and sale business, according to a statement posted on the website of the People’s Bank of China (PBOC).

Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk

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