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China to aid cross-border yuan flows ahead of MSCI inclusion

Reuters  |  SHANGHAI 

SHANGHAI (Reuters) - China's central bank announced a series of measures on Friday to support cross-border fund flows, in an apparent effort to avoid a potential liquidity crunch in the offshore yuan market around June 1, when Chinese shares will be included in MSCI's benchmark indexes. China's MSCI entry is expected to trigger a surge in foreign money flows into yuan-denominated A shares, largely via cross-border stock connect schemes with Hong Kong, potentially boosting demand for the offshore yuan.The People's Bank of China (PBOC) said in a statement that banks involved in offshore yuan ...

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First Published: Fri, May 18 2018. 16:49 IST