China to expand cross-border use of RMB

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China will expand the use of its currency, the renminbi (RMB), in cross-border payments amid efforts to advance RMB internationalization, said a central bank report released on Saturday.

The signing of the Regional Comprehensive Economic Partnership agreement will further boost trade in the Asia-Pacific region, thereby offering more opportunities for using the RMB in trade and investment activities, said the report by the People’s Bank of China.— Xinhua

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