04 November 2010 09:53 [Source: ICIS news]
SINGAPORE (ICIS)--PCC Shanghai, a wholly-owned subsidiary of ?xml:namespace>
"The supplier can start yuan-based transactions this week,” the source said, referring to PCC Shanghai.
The facility to trade in the Chinese yuan would mainly be used for selling PE and PP to local plastic processors from its bonded warehouses in
PCC Shanghai was still waiting for internal approval to offer a door-to-door delivery service to local plastic processors from 2011, supplying PE and PP from its bonded warehouses, he added.
The company had also applied for a licence to sell liquid petrochemicals to Chinese buyers in yuan, and was waiting for approval from the Chinese authorities, he said.
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