China to work with Asian neighbours to grow use of local currencies over US dollar in trade, investment

Source: China – South China Morning PostChina will work with Asian countries to strengthen the use of local currencies in trade and investment, Yi Gang, the governor of the central bank, said on Wednesday, as part of plans to strengthen regional economic resilience.Recent years’ progress by emerging Asian nations in using local currencies in trade and investment has strengthened the region’s financial safety net against external shocks, Yi told an event of the Group of 20 (G20) grouping.“Emerging markets should improve their…Read More

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