Paying in yuan surges
Source: Shanghai Daily |
June 30, 2014, Monday
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Print Edition
Print Edition
CROSS-BORDER settlement in yuan in the Shanghai pilot free trade zone has hit 80 billion yuan (US$12.9 billion) by the end of May, up 169 percent from the same period last year, Dai Haibo, deputy director of the China (Shanghai) Pilot Free Trade Zone Administration, said in a financial forum last week. Dai said financial services are turning into an emerging industry in the zone along with global trade, maritime services, professional services and high-end manufacturing. Dai forecast the operating revenue of financial services in the zone will soon exceed 100 billion yuan.
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