| A program for cross-border yuan settlement, which has been piloted in five Chinese cities since mid-2009, will be expanded as the volume in cross-border trade settled in yuan neared 50 billion yuan ($7.3 billion) by mid-May, the 21st Century Business Herald reported Thursday.
Currently, only 365 enterprises in the municipality of Shanghai and Guangdong province's Guangzhou, Shenzhen, Zhuhai and Dongguan participate in the pilot program, it said.
According to the central bank and five related ministries, the State Council has approved a plan to add nine other provinces -- Liaoning, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Hainan, Sichuan and Yunnan; two autonomous regions -- Inner Mongolia and Guangxi Zhuang; and three other municipalities -- Beijing, Tianjin and Chongqing.
No limit will be put on the number of pilot cities in the above-mentioned provinces, autonomous regions and municipalities, the paper reported. |
