China to build financial centre in western region by 2025, central bank says

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FILE PHOTO: People wearing face masks walk at a shopping area following the coronavirus disease (COVID-19) outbreak, in Chengdu, Sichuan province, China September 8, 2020. REUTERS/Tingshu Wang
FILE PHOTO: People wearing face masks walk at a shopping area following the coronavirus disease (COVID-19) outbreak, in Chengdu, Sichuan province, China September 8, 2020. REUTERS/Tingshu Wang

BEIJING (Reuters) - China is planning to build a financial centre in the western region by 2025, the central bank said on Friday, in a bid to support economic growth in the Chengdu-Chongqing area.

In an inter-agency document outlining the plans, the People's Bank of China said the government will study and set up a mechanism of capital exchanges with Singapore and Japan, and carry out bilateral investment and financing projects.

(Reporting by Stella Qiu, Cheng Leng and Ryan Woo; Editing by Andrew Heavens)

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