China Said to Ask Banks to Prepare for Longer Yuan Trading Hours
- Onshore yuan trading may end at 3 a.m. the next day: sources
- PBOC had previously pledged to extend currency trading hours
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China plans to extend the yuan’s trading hours as it seeks to increase global investor participation in onshore currency trading as part of its internationalization push.
Regulators led by the People’s Bank of China have told some banks to prepare for an extension of onshore yuan trading hours, according to people familiar with the matter, who asked not to be identified discussing private information. The trading will close at 3 a.m. the next day, instead of the 11:30 p.m. local time, the people said. It’s not known when the change would be effective.