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China names JP Morgan Chase Bank as yuan clearing bank in U.S.

China names JP Morgan Chase Bank as yuan clearing bank in U.S.© Reuters. FILE PHOTO – The JP Morgan & Chase Co. building in New York

BEIJING (Reuters) – China’s central bank on Tuesday named JP Morgan Chase (NYSE:) Bank as yuan clearing bank in the United States.

The People’s Bank of China made the announcement on its website.

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Source: Investing.com

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