July 21, 2021 01:41 GMT
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The soon-to-launch offshore yuan trading market in Shanghai’s Pudong district will attract more foreign capital’s participation in trading yuan products and boost demand for China’s currency and its international acceptance, the Shanghai Securities News reported citing industry analysts. More companies in imports and exports have chosen to use yuan for payment settlement, the newspaper said. Choosing Shanghai as the site of the off-shore yuan trading strengthens the city as a global finance center, the newspaper said.