China Said to Put Reserve Rule on Offshore Bank Yuan Funds

Updated on
  • Officials extending effort to counter speculation against yuan
  • Premier Li underscores `no basis' for continued yuan slide

Paramilitary policemen patrol in front of the People's Bank of China in Beijing. China’s central bank will impose required reserve ratios on yuan deposits of offshore participant banks in the mainland in a bid to stabilize the currency.

Photographer: Greg Baker/AFP via Getty Images

China is stepping up efforts to counter speculative bets against the nation’s currency, through imposing reserve requirements on yuan deposits held on the mainland at offshore participant banks.

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