China’s central bank has laid out a broad plan to expand the offshore yuan market, aiming to boost liquidity, broaden the supply of yuan-denominated assets and strengthen financial-market infrastructure.
The push reflects Beijing’s wider effort to internationalize the yuan and meet rising global demand for yuan assets and related risk-management tools.
Xie Guangqi, head of the monetary policy department at the People’s Bank of China (PBOC), said at a Wednesday press briefing that the central bank will keep offshore yuan liquidity ample and stable through several channels, including currency-swap arrangements, market transactions and cross-border corporate flows.
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