China may be courting Japan to cooperate with belt and road to allay controversy after yuan clearing deal

//China may be courting Japan to cooperate with belt and road to allay controversy after yuan clearing deal

China may be courting Japan to cooperate with belt and road to allay controversy after yuan clearing deal

China’s decision last month to allow a Japanese bank to clear transactions valued in yuan raises the prospects of increased economic cooperation between the two countries, especially as China seeks to involve new countries in the Belt and Road Initiative in an attempt to fend off criticisms of its projects, analysts said.The People’s Bank of China last month named MUFG Bank as the first yuan clearing bank in Japan, and only the second non-Chinese bank after JPMorgan last year, to be allowed to…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-07-18T04:09:28+00:00 July 18th, 2019|Headlines|Comments Off on China may be courting Japan to cooperate with belt and road to allay controversy after yuan clearing deal