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China launches direct bidding between yuan and pound sterling
The Chinese center of foreign exchange transactions 18 June announced the launch of the direct trading of the yuan-pound currency pair on the interbank foreign exchange market of China. According to the Xinhua News Agency, the People’s Bank of China regards direct trading as a way to enhance financial cooperation between China and the UK.
Direct trading of the yuan-pound currency pair on the basis of respect for market principles is an important measure taken by China and the United Kingdom to promote the further development of bilateral trade and economic ties.