Location: Home > Information > Latest News

Kunming plans to achieve direct exchange of neighboring countries' currencies

Source:   Time:

Kunming will propel the direct currency changes with neighboring countries and expand the cooperation of local currency settlement so as to boost regional trades. A currency trading center is expected to form mainly based on RMB in Kunming, reporters learnt from Kunming municipal work conference on September 26.

Zhang Zulin(张祖林), mayor of Kunming, introduced that regional cross- border financial service center for RMB will be established in Kunming. Kunming strives to carry out the RMB exchanging policy with neighboring countries. Pilot regions for comprehensive reforms of RMB exchanges are expected to build in Kunming to facilitate the cooperation and exchanges of regional finance.

Zhang Zulin said that standards for RMB exchanges in experimental enterprises involving in the cross-border trade are expected to formulate and the number of pilot enterprises of the RMB settlement in the cross-border trade will be increased. The payment mechanism in bilateral banks will be built to support the bilateral trade. The using of RMB in the investment of trade will be propelled to boost the free convertibility. Innovation in insurance products and service will be supported, and the pilot projects on insurance service of frontier trade and global logistics will be motivated. (Editor:Lynn)

[Relative Articles]

Copyright Reserved 2010 © South-East Asia & South Asia Infoport  | Filing Number:ICP 09005773
Technical Support:China Basalt Software Technology Co., Ltd.