“Expanding the renminbi usage area and making it more flexible is great news as we sell a lot to various countries overseas — this should also remove the risks associated with currency fluctuations,” said Wang Yapeng, a sales manager at Shanghai Electric International Economic and Trading Co Ltd, which exports a wide range of machine parts.
Thu, Jul 09, 2009 - Page 9 News List
The yuan seeks converts
China says it wants to turn Shanghai into a financial center by 2020, but will need a yuan that is fully convertible into other currencies before then
By Keith Bradsher / NY TIMES NEWS SERVICE , HONG KONG
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