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China drafts new rules on overseas yuan lending to boost use

Regulators to ease curbs on loan types, impose cap on extending credit abroad

Chinese financial regulators have proposed easing restrictions on overseas lending in yuan to boost the internationalization of the currency and lessen China's dependence on the dollar.   © Reuters

China plans to relax restrictions on domestic banks' ability to provide yuan-denominated loans overseas, a further step in its strategy to increase global use of the Chinese currency.

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