Tianjin Eco-city plans cross-border yuan deals

Tianjin will launch a pilot program for companies and individuals in the Sino-Singapore Tianjin Eco-city to conduct cross-border yuan transactions with Singapore, Tianjin Vice-Mayor Zong Guoying told a news conference on Wednesday.

The program, approved by the People's Bank of China, will allow firm registered in the region to obtain yuan-denominated loans from banks in Singapore and issue yuan-denominated bonds in that country.

It will also allow equity investment funds that have been set up in the eco-city to make overseas investments in yuan within the Association of Southeast Asian Nations.