Chinese regulators will double the duration of trades in the yuan

Moscow. December 23. Chinese currency-trading system (CFETS) will extend the trading session for the yuan is doubled from 4 January 2016, Bloomberg reported with reference to information of the people’s Bank of China (PBC).

Trading session starting at 9:30 local time and will close at 23:30 local time. Currently session to trade in the yuan in Shanghai closes at 16:30 local time.

The extension of the trading session will support the efforts of the Chinese authorities in terms of globalization of the yuan after the inclusion of the national currency to the basket of special drawing rights (SDR, SDR) of the International monetary Fund (IMF), experts say.

Before it became known that CFETS has asked several banks to test 23-30 December, the extension of trading hours for yuan in Shanghai.