The first non-financial company to receive Chinese government approval to conduct cross-border yuan business opened an online platform for traders in Hong Kong yesterday, South China Morning Post reported. Tianjin’s Bohai Commodity Exchange chairman Yan Dongsheng said the platform would allow Hong Kong and international investors to conduct yuan settlement and trade up to 70 products ranging from crude oil to apples. Two newly launched international products are iron ore and rubber. Established in 2009, the Bohai exchange now hosts US$3.29 in trading every day.
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