In the news: RMB enters IMF basket, GSK pays the SEC a $20M fine, the Belt and Road gets a boost and Didi snaps back at local driving rules
October 11, 2016 | BY
Katherine Jo &clp articlesThe renminbi achieved global reserve status, GlaxoSmithKline settled China bribery charges, the PBOC pushed for more currency clearing houses and three major cities drafted restrictive ride-sharing regulations
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Therenminbi officially achieved global reserve currency status last Saturday, a milestone seen breathing life into China's bond markets by prompting estimated inflows of as much as $1 trillion over