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China to work with Asian peers to boost use of local currencies in trade -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : People stroll past the People’s Bank of China’s headquarters in Beijing (China) September 28, 2018. REUTERS/Jason Lee

BEIJING, (Reuters) – China and Indonesia will cooperate to encourage the use of local currency in investment and trade, Yi Gang of the People’s Bank of China stated Wednesday.

Yi spoke at a G20 conference via video about how emerging Asian nations have been making significant progress using local currency in investment and trade in recent years. This has increased their economic resilience to deal with everlasting shocks.

Yi said that China would keep its flexible accommodative monetary policy.

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