HSBC China has received approval from the Peoples Bank of China to handle direct trade between the Renminbi and the Japanese yen in Chinas interbank market.China and Japan will start direct trading of their currencies in both markets tomorrow.The move is part of a broader move to try to hike the profile of the Chinese currency overseas.For more on the broader attempts by the Chinese government to internationalize the Renminbi, we had a chance to speak earlier with Shen Hong with Dow Jones Newswires.
