China lowers hurdle for overseas money transfers

Shanghai and Beijing among cities looking to reduce government regulations

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A man wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, February 2020. © Reuters

YUSHO CHO, Nikkei staff writer

SHANGHAI -- China has begun simplifying overseas remittance procedures, with at least four cities having reduced the documentation required for sending money abroad for trade in services.

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