China to further improve yuan cross-border transactions to facilitate trade

A woman counts Renminbi notes at a Rural Commercial Bank in Lianyungang, China.
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A woman counts Renminbi notes at a Rural Commercial Bank in Lianyungang, China.

China will encourage companies to use the yuan in cross-border transactions and facilitate foreign investors' use of the currency in direct investments in the country, the central bank said on Friday.

China will also allow foreign institutions to use yuan in carbon emissions trading domestically, the People's Bank of China said in a statement published on its website.