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BOC branch to conduct yuan-tenge clearing business

2014-09-15 09:50 Global Times Web Editor: Qin Dexing
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A Bank of China (BOC) branch will begin to conduct the first yuan clearing business in Kazakhstan in Central Asia starting from September 25, allowing the Chinese currency to directly convert into Kazakhstan's tenge, news portal people.com.cn reported Sunday.

The start of the business follows the Silk Road economic belt initiative brought forward by Chinese President Xi Jinping in 2013, according to the person in charge of the local BOC branch.

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