Chinese, Japanese leaders unveil deals on bond sales, currency to tighten finance ties

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BEIJING — Chinese and Japanese leaders have unveiled initiatives to tighten financial links between East Asia's economic giants and sometime rivals — measures that could expand use of China's tightly controlled currency abroad.

During a visit to Beijing by Japanese Prime Minister Yoshihiko Noda, the two governments said in a surprise announcement Sunday they will encourage use of their own currencies in bilateral trade, which now is conducted mostly in U.S. dollars.

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Joe Stephens, Carol D. Leonnig 26 Dec, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=e2c197d7bcf8b53f15912165539bf9cd
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