China gives nod to foreign central banks to remit funds
Foreign central banks investing in domestic interbank market can freely remit funds without regulatory approval
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Shanghai
THE People's Bank of China (PBOC) said that foreign central banks investing in the domestic interbank market will be able to freely remit funds without regulatory approval, in a further step to open up its debt markets.
China announced last year that it would allow foreign financial institutions to invest in its massive interbank market, home to its primary bond and foreign exchanges, without quota restrictions.
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