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By the end of this June, the total assets of foreign banks in China had topped US$32.3 billion and US$20.8 billion in loans. Thirty-two foreign-funded banks in Shanghai and Shenzhen received approval to conduct transactions in renminbi. The scope of the banks' clients has expanded to Jiangsu, Zhejiang, Guangdong, Guangxi, and Hunan provinces. By the end of June, China's foreign exchange reserve hit US$158.6 billion, increasing by 3.9 billion since the end of last year.
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