Cross-Border Yuan Settlement to Expand

After nearly one year of a pilot program, cross-border trade settlement based on the yuan will expand to 20 provincial-level regions in China and all of China's trading partners.

Heilongjiang, Sichuan, Jiangsu, Fujian and Yunnan are among the new regions that will join the cross-border yuan settlement program.

In July 2009, the pilot program kicked off to link Shanghai, four cities in Guangdong Province, Hong Kong, Macau and member countries of the Association of Southeast Asian Nations (ASEAN). By the end of May, cross-border trade settlement based on the yuan totaled 44.56 billion yuan.