Free trade accounts a big step for Shanghai FTZ
The latest batch of regulations for the Shanghai Free Trade Zone (SFTZ), announced late last week by the People's Bank of China (PBoC) and governing the implementation of free trade accounting in the zone, indicate that the currency will operate there much like it does in the offshore market, HSBC analysts said on Monday. And while RMB will be the starting point, other currencies could follow soon.
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