April 2, 2011China PBOC: To Further Develop Use Of Yuan For Trade Settlements
BEIJING -(Dow Jones)-
The People's Bank of China will steadily expand use of the yuan in cross-border trade and investment in the coming five years, an official of the central bank said in an article published Saturday.
Cross-Border yuan settlement conducted by banks totaled CNY509.3 billion from July 2009, when the trial program began, to the end of December, Li Bo, director of the No. 2 monetary policy department of the PBOC, said in an article posted on the PBOC's website.
Meanwhile, cross-border yuan investment,CNH, and financing trial totalled CNY70.17 billion by the end of December, Li said in the article. The article didn't give the time when the calculation started.
read more @ Internationalizing the RMB: Perceptions and Realities ~ China's Currency Going Global with CNH ...
