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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In Hungary, the Chinese have a currency clearing center.

在匈牙利，中国建设有人民币清算中心。

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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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Just imagine if this extraordinary flood of software development talent could be deployed in the decentralized digital currency space where it would lead to reduced transactional friction, shorter clearing times, massively lower processing fees, optional buyer anonymity, and finality of merchant payment.

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The new yuan clearing hub underscores rising use of the yuan for trade, as well as Beijing's push to internationalize its currency.

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