China to expand yuan cross-border financing and investing channels

August 10, 2016 3:23 AM EDT

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BEIJING (Reuters) - China's will further expand yuan cross-border financing and investment channels, and will further expand cross-border usage of the yuan under the current account, the central bank said on its website on Wednesday. China will also increase the amount of yuan used as a reserve currency, the People's Bank of China said in a report on the internationalization of the yuan.

The yuan is set to be included in the IMF's special drawing rights basket for the first time in October.

(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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