Cross-Straits currency settlement being coined

The local government of Fujian province is striving to develop the cross-Straits currency settlement mechanism for cross-border trade in Pingtan county, a senior official from the province said.

"The Fujian provincial government is working on the program that will allow yuan and the new Taiwan dollar settlements conducted in Pingtan to further strengthen the financial cooperation between the mainland and Taiwan," said Zhou Lianqing, deputy to the National People's Congress and director of the Fujian Provincial Economic and Information Technology Commission.

Zhou made the remarks at a panel discussion during the annual session of the congress.