Yunnan's cross-border RMB settlement reached 100 bln yuan by July,Yunnan Adventure Travel

Yunnan's cross-border RMB settlement reached 100 bln yuan by July

The cross-border RMB settlement in Yunnan has reached 100.63 billion yuan by July, 2013, a new record for the province. The business has ranked in the third and sixteenth place among the eight border provinces and in China respectively.

By the end of July, the main transaction bodies in Yunnan totaled 989, 78% increase compared with that in 2011. The branches of the cross-border RMB settlement totaled 231, 71% up than that in 2011.

Yunnan has developed cross-border yuan settlements in 54 countries and regions by this July. On the basis of market in ASEAN countries, Yunnan has further promoted the business with South Asia with an increase of 874% year on year.

Thirteen banks in Vietnam, Laos, Cambodia and Thailand have opened 32 accounts for yuan settlement accounts in 7 financial institutes in the province. A total of 832 accounts have been opened by foreign institutions and non-resident in Yunnan-based banks, undergoing a 60% growth compared with the end of last year.

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