China gains another step to replace U.S. dollar with yuan in global markets

China gains another step to replace U.S. dollar with yuan in global markets

by Cheryl K. Chumley

Australia's central bank will start investing in Chinese bonds — an "important" decision that marks yet another win for China's growing international financial influence.
"This decision to invest in China is an important one," said Philip Lowe, deputy government of the Reserve Bank of Australia, BBC reported.http://www.washingtontimes.com/news/2013/apr/24/china-gains-another-step-replace-us-dollar-yuan-gl/?utm_source=RSS_Feed&utm_medium=RSS