Yunnan to help pioneer RMB trade settlements

Current exchange regime, foreign capital have 'led to a fragile economic climate'

Regional cooperation between southwest China's Yunnan province and neighboring South Asian and Southeast Asian nations will advance China's effort to promote cross-border trade payments in its own currency, according to a high-ranking financial official.

As a frontier province, Yunnan has begun a program called the Dianchi Cooperation for Opening Asia (DCOA) that will promote sustained development in the region, said Wang Xiaoyi, deputy chief of the State Administration of Foreign Exchange, at an international financial forum held in Kunming, capital city of Yunnan.