People's Bank of China Announces New Measures

The Chinese Central Bank has announced new financial measures aimed at strengthening the yuan's status as a global reserve currency. These include improving the mechanism for regulating short-term interest rates, launching a yuan repurchase center to facilitate foreign investors, and studying the creation of a liquidity support tool for non-bank institutions. Additionally, the bank plans to experiment with yuan trading outside of China in the Shanghai Free Trade Zone and to issue a plan for developing external financing. Short-term reverse repurchase operations will also be added to reduce volatility in the money market and support economic growth.

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