The central banks of Germany and China signed an agreement on Friday to facilitate transactions in the Chinese currency in Frankfurt, the Bundesbank said, making Germany’s financial capital the first hub for such payments in Europe.
The Bundesbank and the People’s Bank of China signed a memorandum of understanding during Chinese President Xi Jinping’s state visit to Germany on Friday, ahead of a similar agreement between China and Britain expected on Monday. Continue reading “Frankfurt becomes Europe’s first renminbi payment hub”

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