China will develop a pilot zone in Qianhai, part of Shenzhen to strengthen ties with Hong Kong and experiment currency convertibility.
China is seeking to create a financial service hub, which will host financial and services companies.
Zhang Xiaoqiang, deputy minister in charge of the National Development and Reform Commission, said China will liberalize cross-border loans denominated in yuan.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.