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Caixin Global
Caixin Global
Business
Wang Shiyu and Denise Jia

China and Pakistan Set Up Offshore Yuan Clearing

China Pakistan South Asia Asia PBOC

What’s new: Pakistan became the third country in 2022 to establish a Chinese yuan clearing arrangement and the first country in South Asia to do so.

China’s central bank signed a cooperation memorandum with the central bank of Pakistan to establish a yuan clearing arrangement in the country, the People’s Bank of China (PBOC) said Wednesday.

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