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Caixin

China tries more flexibility for multinational currency exchange

Pilot program for converting yuan funds more freely includes Royal Dutch Shell

Under the trial, certain multinationals will be able to buy foreign currencies at will within certain limits and deposit the money into the major domestic bank accounts of their cross-border cash pools for overseas payments.    © Reuters

Under a trial launched by Chinese financial regulators, certain multinational corporations including oil giant Royal Dutch Shell will be allowed to convert their yuan funds into other currencies more freely.

The pilot program marks part of China's efforts to push for the internationalization of the yuan.

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