Singapore will soon offer renminbi clearing, another step in the steady march toward internationalisation of the Chinese currency.

新加坡不久将开通人民币结算业务，人民币稳步国际化的进程又将向前迈进一步。

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Thus that part of the monetary base represented by the clearing balance of the banking system was initially not subject to the discipline imposed by a currency board system.

因此，货币基础中银行体系结算余额的部分，最初并不受货币发行局制度约束。

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