pboc speech, 2006-06-06
Economic globalization has caused increased cross-border financial activities, which requires more multi-currency cross-border payments, so the traditional payment system focusing on providing settlement services for domestic financial institutions have evolved along such changes, for example the upgrading of European cross-border payment system (TARGET), multi-currency foreign exchange trading settlement services provided by the CLS, the settlement arrangement for US Dollar and the Euro in Hong Kong market etc.
Sentiment: neutral
Topic: mp_interest_rate