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PBOC calls for domestic yuan futures market to boost currency internationalisation

China intends to build a strong onshore foreign-exchange market for the yuan, as the launch of exchange rate futures contracts for domestic investors is rapidly climbing up the work agenda of Beijing’s policymakers.

In a working paper released on Tuesday, researchers at the People’s Bank of China (PBOC) said that China should set up a yuan exchange rate futures market at an appropriate time and guide domestic entities to use offshore currency futures markets . . .

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