China aims to pull more currency trading to domestic markets
Move is the latest step toward fostering a global role for the country's financial system
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CHINA plans to deepen its foreign-exchange markets to encourage both domestic and overseas players to trade and borrow external currencies more onshore, in the latest step toward fostering a global role for its financial system.
The China Foreign Exchange Trade System (CFETS), an arm of the central bank, plans to develop swaps involving overseas currencies - such as between the euro and the US dollar - and foreign-exchange interest-rate swaps, among other steps detailed in emailed responses to questions posed by Bloomberg.
