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Saturday, Oct 31, 2020

American Express: new yuan card settlement network promotes global use of China’s currency

American Express: new yuan card settlement network promotes global use of China’s currency

Beijing’s decision to let American Express join national clearing network will boost the yuan’s circulation and its role in global finance, analysts say. The move has the added benefit of reducing China’s reliance on the US dollar payments system as bilateral relations between Washington and Beijing deteriorate
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