Caixin OnlineFinance & EconomicsTop Stories Finance Wenzhou Pilot Raises Hopes of Increased Cross-Border Yuan Services
11.27.2012 18:40

Wenzhou Pilot Raises Hopes of Increased Cross-Border Yuan Services

Zhejiang city's reform program is aimed at increasing overseas investment by individuals, which could spur progress on transaction services
By staff reporter Li Yuqian

(Beijing) -- As a pilot program takes shape in Wenzhou to allow individuals to make direct overseas investment with Chinese currency, expectations have arisen that the program will be further expanded to include more cross-border yuan transaction services.

But a source close to the situation said on November 16 said the central government hasn't worked out any policy to implement broader individual cross-border yuan business. There is also no timetable to expand the pilot program.

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