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China central bank says it will improve policy framework for cross-border yuan use
March 27, 2017 / 9:00 AM / 6 months ago

China central bank says it will improve policy framework for cross-border yuan use

A 100 Yuan note is seen in this illustration picture in Beijing March 7, 2011. REUTERS/David Gray/File Photo

BEIJING (Reuters) - China’s central bank said on Monday that it will improve the policy framework and infrastructure for cross-border use of the yuan currency.

The People’s Bank of China (PBOC) will improve the yuan regime and steadily push forward with the yuan’s convertibility in the capital account, it said in a statement on its website.

The PBOC also said it aims to enhance the role of the yuan in investment, reserves and financial transactions.

Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk

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