China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP
China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP

China economy

Economy /  China Economy

China omits US dollar from forex trading fee waivers in bid to bolster yuan

  • China’s exchange regulator says waiving of transaction fees supports the national belt and road strategy, but Chinese banks still mainly use the US dollar in cross-border deals
  • The euro, British pound, Japanese yen, Hong Kong dollar and Australian dollar are also not exempt from trading fees

Topic |   China economy
Amanda Lee
Amanda Lee in Beijing

Updated: 10:43pm, 5 Aug, 2020

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China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP
China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP
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