May 29, 2012 / 12:01 AM / 7 years ago

Japan, China to launch direct yen-yuan trade on June 1: Azumi

TOKYO (Reuters) - Japan and China will launch direct yen-yuan trade in the Tokyo and Shanghai markets from June 1, Japanese Finance Minister Jun Azumi said on Tuesday.

Direct trade of the two currencies, without interim exchange into dollars, has been anticipated as a means of facilitating trade and financial transactions between Asia’s two largest economies.

Reporting by Tetsushi Kajimoto; Editing by Edmund Klamann and Chris Gallagher

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