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China to extend onshore yuan trading hours next year in major reform

Move marks first step towards developing yuan as global reserve currency

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China's central bank said on Wednesday it would extend the yuan's trading hours on the Shanghai-based foreign exchange market from Jan 4, in a major step forward on reforms that will help onshore and offshore rates converge.

Hong Kong

CHINA'S central bank said on Wednesday it would extend the yuan's trading hours on the Shanghai-based foreign exchange market from Jan 4, in a major step forward on reforms that will help onshore and offshore rates converge.

The extension will also allow trading in the