Bank of China Brings Yuan Trading to U.S.

 Published: 1/11/2011 12:20:01 PM GMT
WSJ Original Cached

Bank of China Ltd., one of the country's four major state-owned banks, has opened trading in the Chinese currency to customers in the U.S., representing a symbolic endorsement by Beijing of foreign trading in the yuan.

Until the middle of last year, the buying and selling of yuan, had largely been confined within China's borders by the country's strict capital controls. Trading in the yuan has ballooned in Hong Kong since Beijing first opened it up to offshore trading this past July.

Bank of China's move is the first by a state-owned institution into yuan trading in the U.S. The ...

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