Tuesday, August 31, 2010

Banks promote RMB ahead of US dollars

Banks promote RMB ahead of US dollars — A number of global large banks
have initiated international roadshows to urge their corporate clients to use the
RMB rather than the US dollar when conducting trade with China, according to
media reports, HSBC and Standard Chartered Bank are now offering a discount
of transaction fees and other financial incentives for enterprises choosing RMB
settlement in their cross-border trade. (DJ News)

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