State-run Industrial and Commercial Bank of China (ICBC) has opened a yuan-clearing bank in Pakistan, the latest example of how the Chinese currency is gaining momentum in its internationalization course amid a global push toward de-dollarization.
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China s major industrial firms saw their profit surge in August, reversing the downward trend and increasing by 17.2 percent from a year earlier, the latest sign of sustained recovery in the world’s second-largest economy as stimulus kicks in.