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China to ‘strengthen’ Hong Kong as yuan trading hub, diversify forex reserves in 2022

Summary:
[unable to retrieve full-text content]China will push for greater international use of the yuan by giving more support to Hong Kong as an offshore trading centre next year, while also diversifying its forex reserves, the People’s Bank of China (PBOC) has said.Efforts to support the city as a yuan hub were among the central bank’s 2022 priorities, outlined at its annual work conference, and marked a change in tone from the “steady and prudent” economic message in the country’s five-year plan.The announcement on Monday comes as…

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[unable to retrieve full-text content]
China will push for greater international use of the yuan by giving more support to Hong Kong as an offshore trading centre next year, while also diversifying its forex reserves, the People’s Bank of China (PBOC) has said.Efforts to support the city as a yuan hub were among the central bank’s 2022 priorities, outlined at its annual work conference, and marked a change in tone from the “steady and prudent” economic message in the country’s five-year plan.The announcement on Monday comes as…

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