Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP

new | CIPS to break Chinese banks' global monopoly over yuan clearing

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Launch of the China International Payment System will see roles of Chinese lenders and Hong Kong in global yuan trading diminish in clearing

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Published: 11:36pm, 10 Sep, 2015

Updated: 11:36pm, 10 Sep, 2015

Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP

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