Economy

China expands pilot program of yuan settlement

(Xinhua)
Updated: 2010-06-22 14:19

BEIJING - China's central bank said on Tuesday that the pilot program of yuan settlement in foreign trade has been expanded to 20 province-level regions to facilitate trade and investment.

Related readings:  PBOC to promote yuan settlement in Xinjiang trade  China expands yuan settlement in cross-border trade  Banks active in transacting yuan cross-border settlement  Mainland, HK sign supplementary pact on yuan trade settlement

The newcomers are Beijing, Tianjin,?Liaoning, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Hainan, Chongqing, Yunnan, Sichuan, Jilin, Heilongjiang, as well as four autonomous regions of Guangxi, Inner Mongolia, Tibet and Xinjiang.

China introduced the pilot program in July 2009. Exporters in Shanghai, and several cities in the manufacturing base of Guangdong Province were the first batch that could settle foreign trade in yuan.