"In the first half of the current year, the Central Bank has not allocated any exchange for the import of drugs and medical equipment, " she said.

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The alternative, a foreign-owned holding company, must operate under tight restrictions that forbid, for example, inter-company loans, foreign-exchange balancing, import-export, or even consolidated accounts across the subsidiaries.

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One reason the strengthening of the yuan will play into the hands of the Chinese consumer is that a stronger exchange rate cheapens import prices, giving consumers greater purchasing power.

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