BEIJING - China aims to let investors use the yuan to pay for foreign direct investment in the country from September, Reuters reported , cting the Commerce Ministry.

China has been promising to allow yuan-denominated foreign direct investment as part of plans to slowly ease its grip on the yuan.

Under the scheme, investors who wish to make foreign direct investment in China would need to get regulatory approval, although Beijing has not said how much investment would be accepted.

"The draft has to go through a period of soliciting public opinion. We will try to implement it in September, next month," said ministry spokesman Shen Danyang.