China, Japan unveil deals to tighten finance ties

(AP)? 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 Sunday they will encourage use of their own currencies for trade, which now is conducted mostly in U.S. dollars.

They also agreed to have Japanese companies sell bonds denominated in China's yuan, a move that could help promote Beijing's gradual campaign to expand use of its currency abroad.

Source: http://feeds.cbsnews.com/~r/CBSNewsTheEarlyShowBoxOffice/~3/8ei5D9ARnFw/

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