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Banks

China, U.S. agree to push for IMF reforms for emerging economies: vice premier

U.S. Secretary of State John Kerry gives a thumbs-up alongside US Treasury Secretary Jacob Lew (C) and Chinese Vice Premier Wang Yang (R) as they take part in a roundtable breakfast with CEOs during the US - China Strategic and Economic Dialogue at Diaoyutai State Guesthouse in Beijing, China June 7, 2016. REUTERS/Saul Loeb/Pool

BEIJING (Reuters) - China and the United States agreed to push forward reforms at the International Monetary Fund (IMF) to increase quotas for emerging economies, China’s vice premier Wang Yang said on Tuesday.

The United States also will fully consider the impact that normalizing monetary policy will have on international markets, he added, at the end of high-level talks between China and the United States in Beijing.

One U.S. bank and one Chinese bank will be appointed to act as clearing banks for yuan business in the U.S., he added.

Reporting by Michael Martina; Writing by Sue-Lin Wong; Editing by Kim Coghill

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