China to allow Hong Kong to settle trade in yuan
China will soon allow Hong Kong to settle cross-border trade in the Chinese yuan, the central bank governor said Friday, in a move seen as a step towards the greater convertibility of the currency.
CHINA will allow the yuan to trade in a wider daily range against the US dollar beginning on Monday, taking another major but widely-anticipated step to further liberalise its exchange-rate regime and make its currency more market-oriented.