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China will double the yuan's daily trading band to 2 percent starting March 17.

The central bank is suggesting a limit of CNY1, 000($162.6) for each transfer and CNY10, 000 for yearly aggregate cash transfer.

The suspension came a day after CITIC Bank announced that the bank planned to partner with Alibaba and Tencent to issue virtual credit cards based on QR code payments.

The governor said lifting restrictions on deposit interest rates is on the central lender's agenda.

"I think people should invest in them knowing the risk and hopefully the yield is sufficient to compensate for that higher risk."

The nation's total yuan funds outstanding for forex reached CNY29.07trillion by the end of January, up CNY437.4billion from a month earlier.

Singapore’s new ATM is one of the first of its kind worldwide, following a scant few already operating in Canada and the United States.

A CCTV commentator earlier called for shutting down Yue Bao, the online money-market funds vendor owned by Chinese e-commerce giant Alibaba, due to dangers to China's banking system and the overall economy.

Yuan payments increased by 30.6 percent while the growth for all payment currencies was 4.8 percent in January.

The People's Bank of China (PBoC) issued 14-day repos worth CNY60billion two days after a CNY100billion operation.

About 15 to 20 companies from China are expected to go public in the United States this year amid restored investor confidence in the nation's companies.

The renminbi dropped for the seventh consecutive day Wednesday to close at 6.1244 after hitting a new low since July 31st, triggering speculations over the central bank's guidance.

Economists say the central bank wants to lower expectations for further gains.

China's central bank has announced that ceiling on interest rates paid on some foreign currency deposits will be lifted in the Shanghai Free Trade Zone.

Chinese non-financial companies held total outstanding debt of about $12 trillion at the end of last year, equal to over 120 percent of GDP,according to Standard & Poor's estimates.

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