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China introduced yuan-denominated trade settlement in July 2009 to help its exporters avoid exchange rate risk. The pilot regions eligible to use the new settlement scheme in their trade with Hong Kong and Macao are Guangdong province and the Yangtze Delta region (Shanghai city, Jiangsu...
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The status of the renminbi (RMB), China's currency, is not commensurate with the country's global economic prowess as … formal monetary arrangement such as the euro, the RMB may achieve its status as a regional settlement currency within Asia …
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