China to allow foreign central banks to open yuan settlement accounts

China's central bank will allow its foreign counterparts to open yuan settlement accounts at domestic financial institutions, it said in a statement on Friday. 

PHOTO: REUTERS

OCT 30, 201512:32 PM

[BEIJING] China's central bank will allow its foreign counterparts to open yuan settlement accounts at domestic financial institutions, it said in a statement on Friday.

The People's Bank of China also said it has permitted foreign central banks to open deposit accounts at local banks for bilateral local currency swaps, according to the statement released on its website.

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