Central bank regulations give big boost to Fujian pilot free trade zone

China's central bank has issued detailed regulations on expanding cross-border use of the yuan in the China (Fujian) Pilot Free Trade Zone. It will bring more business opportunities to commercial lenders in Fujian province, bankers said.

Qi Yun, deputy general-manager of Bank of China Ltd's Xiamen branch, said: "We've been waiting for detailed regulations on cross-border use of the yuan for a long time.

"The People's Bank of China did open up certain policies this time. It will bring a lot more business opportunities for banks as well as more financial services and products for individuals and companies in the free trade zone."