#AceFinanceNews – Sept.24: BEIJING (Sputnik) – The Chinese central bank authorized the New York branch of the Bank of China to be a clearing bank in the United States, the South China Morning Post reported.
“We also welcome banks in New York that meet the requirements to become a clearing bank for renminbi [another name of Yuan]. I’m sure that will further boost our cooperation,” Li said at a business dinner in the Economic Club of New York on Tuesday.
© AFP 2016/ PHILIPPE LOPEZ
The prime minister also assured US business leaders concerning the access to the Chinese market.
“As our business sectors mature, we will gradually advance its opening-up and widen the access to more sectors for foreign investors,” Li said.
He also said that China would not devalue its currency to boost export.
Li added that China and the United States would reach a high standard and mutually beneficial bilateral investment treaty (BIT) that is being negotiated since 2008 if both sides held a pragmatic and flexible attitude.
I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.
News & Views welcome always published as long as NO bad language or is not related to subject matter.
To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit https://acepchelp.wordpress.com and leave a comment or send a private message on Telegram @Aceone31