As Chinese leader Xi Jinping works to increase the yuan’s role in global trade and finance, he’s encountering an unexpected speed bump: mainland companies. New data from the People’s Bank of China (PBOC) suggest corporate chieftains are dragging their feet on converting foreign-exchange earnings into local currency. In March, FX deposits rose to US$833 billion from $779 […]
To continue reading, please log in to your AT+ Premium account. Not yet a member? Please signup for AT+ Premium monthly membership, AT+ Premium yearly membership or AT+ Premium Access membership.
