China takes new measure to promote de-dollarization ...News

Beijing extends hours for onshore yuan trading The Chinese authorities have extended trading hours for the onshore yuan as part of the state goal to broaden cross-border use of the national currency and boost yuan trading activity, Bloomberg reports. Starting January 1, trading hours for the onshore yuan have increased so that foreign-exchange transactions are now possible until 3am in Beijing instead of the 11:30pm cutoff that had been in place formerly. The step takes trading into the European evening and deeper into the US day. The measure bolsters Beijing’s previous initiatives aimed at promoting the use of th

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