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More Signs Of Flexible Yuan Policy

|Includes:WisdomTree Chinese Yuan ETF (CYB), DSUM, FXCH

As noted in my recent article, the Chinese government seems to have significantly shifted its currency strategy. Instead of seeking to artificially devalue its currency, the government is now seeking to achieve convertibility for the yuan. The latest development in China's yuan strategy is happening in Shenzhen, or more specifically, Qianhai. As Bloomberg reports, "companies in Qianhai will be encouraged to issue yuan-denominated bonds in Hong Kong and experiment with cross-border yuan loans."