With China’s currency having steadily strengthened in recent months, the central bank has rolled out a pair of measures to lower foreign exchange hedging costs and support cross-border yuan financing.
In a notice on Thursday, the People’s Bank of China refined the framework for domestic banks to conduct cross-border yuan interbank financing, explicitly endorsing their role in providing stable yuan liquidity to offshore markets through regulated channels.
The move comes as Beijing has been…
As the yuan sizzles, China’s central bank deploys double-barrelled policy tweak
