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Story summary
- China aims to promote the yuan's global use by easing access for onshore and overseas institutions.
- The People’s Bank of China outlines plans to support the yuan as a financing currency and to open markets.
- The strategy seeks to improve cross-border trade efficiency as it aligns with efforts to internationalize the yuan.
- Hong Kong launched a 100 billion yuan Renminbi Business Facility to help firms borrow yuan at lower rates.
