CHINA ALLOWS USE OF YUAN CARDS ABROAD.(Brief Article)

The People's Bank of China, China's Central Bank, announced Wednesday that it would allow Yuan (domestic-currency) bank cards to be used outside the country for the first time. The move signals the latest relaxation in financial controls as China prepares for a more flexible currency. UnionPay cardholders will be able to withdraw money from ATMs and pay for goods and services using POS terminals in South Korea, Thailand and Singapore beginning Jan. 10, China Daily …