Five Chinese Cities Begin Trial Trading In Yuan, Replacing US Dollar
source: http://news.xinhuanet.com/english/2009-04/08/content_11150906.htm
-
-
- atomiclegion
- added this
China's State Council, or Cabinet, announced a pilot program to allow exporters and importers in five cities to settle cross-border trade deals in Renminbi, or yuan.
The cities are Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan. The latter four are all in south China's Guangdong Province.
Attendees at a State Council executive meeting Wednesday, presided over by Premier Wen Jiabao, agreed settling cross-border trade deals in yuan was important for promoting economic and trade ties between China and neighboring countries and regions.
Information about when and how the trial program will start was not available.
The State Council urged departments concerned to issue relative rules as soon as p
The cities are Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan. The latter four are all in south China's Guangdong Province.
Attendees at a State Council executive meeting Wednesday, presided over by Premier Wen Jiabao, agreed settling cross-border trade deals in yuan was important for promoting economic and trade ties between China and neighboring countries and regions.
Information about when and how the trial program will start was not available.
The State Council urged departments concerned to issue relative rules as soon as p
-
-
1percent
-
This is the beginning of China's withdrawal from U.S. currencies.
Get ready for the upcoming Dollar Crisis.
Pareo Nullus
- 2 years ago
-
1percent
