China turns to boosting domestic banks on international stage

Country strives to retain control of price discovery after renminbi's inclusion into SDR basket

Chinese banks might soon get full access to FX offshore market

Chinese policymakers are likely to turn towards boosting their domestic banks' role in the renminbi across the global stage, as their focus shifts towards retaining control of trading in the currency once it enters the International Monetary Fund's key basket of currencies, market participants say.

After years of finely tuned policies to encourage the renminbi's role on the world stage without letting go of control, the pressure of finding the right balance is intensifying as the currency's

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