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" Australia is close to signing a deal with China that would allow the establishment of an official clearing bank for the renminbi, a step towards the more open flow of money and investment into and out of the Asian giant.Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe said the central bank was working with the People's Bank of China (PBOC) on a memorandum of understanding that would allow a clearing bank to be chosen "over coming months"."
" Australia is close to signing a deal with China that would allow the establishment of an official clearing bank for the renminbi, a step towards the more open flow of money and investment into and out of the Asian giant.Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe said the central bank was working with the People's Bank of China (PBOC) on a memorandum of understanding that would allow a clearing bank to be chosen "over coming months"."
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