Full article in Chinese: http://www.caijing.com.cn/2008-12-25/110042316.html
The RMB took a step toward becoming an international currency. Beijing announced on December 24 that it will allow companies in the Pearl River and the Yangtze deltas to pay and get paid for foreign trade in yuan. Currently, foreign traders denominate sales in foreign currencies, such as dollars and the Euro, and have to go through the State Administration of Foreign Exchange to change currency. This brings added risk from fluctuations in foreign exchange rates.
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