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Guo Shuqing, the chairman of state-controlled China Construction Bank (CCB), also said he is exploring the possibility of issuing loans to trading companies in yuan, allowing Chinese and foreign companies to settle their bills in yuan rather than in dollars.
Mr Guo said the issuing of yuan bonds in Hong Kong and Shanghai would help to develop the debt markets in China and promote the yuan as a major international currency.
It was the first time the head of a major Chinese bank has called for the wider use of the yuan, although a chorus of senior government officials have already voiced their concerns about the stability of the dollar and have said the yuan should be used more widely.
Originally posted by projectvxn
reply to post by redhatty
I've been harping on this crap for so long. I just shut up about it. I just read KDs thoughts on the matter, it is amazing how close he and I are in opinion. Things are going to get ugly. I've already warned everyone who will listen.
Originally posted by GreenBicMan
Remember, those guys rely on us buying their crap too... I think this article is garbage IMO