Four BRI countries get direct access to onshore FX market

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Four BRI countries get direct access to onshore FX market

renminbi counting 230px
FILE - In this Aug. 26, 2015 file photo, a bank clerk counts renminbi banknotes in a bank branch in Huaibei in central China's Anhui province. A series of bungled decisions have escalated doubts about Beijing’s economic stewardship. (Chinatopix via AP, Vile) CHINA OUT | Uncredited/AP/Press Association Images

China has relaxed access to the onshore renminbi (CNY) foreign exchange market for overseas banks based in Cambodia, Kazakhstan, Mongolia and Thailand, all countries that fall under the Belt and Road initiative, GlobalRMB has learned.

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