Shanghai embraces euro trading

NEWS

SHANGHAI -- Local FX markets in Shanghai, China’s main financial centre, started trading the euro last Monday (April 1).

Previously, only the US dollar, the Hong Kong dollar and the Japanese yen were traded in Shanghai.

Although the European Central Bank (ECB) declined to comment on whether it was involved, analysts believe ECB president Wim Duisenberg’s visit to Beijing in February may have paved the way for euro trading in the Chinese centre.

Chinese authorities have been sympathetic toward

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