China implements yuan settlement for cargo exports   

中国出口货物跨境贸易人民币结算全面铺开

中国人民银行6月12日表示，出口货物贸易人民币结算企业重点监管名单已经确定，跨境贸易人民币结算业务自此全面铺开。

Beijing (CNS) -- The People's Bank of China (PBC) announced on Tuesday that the list of pilot companies to settle cargo exports in yuan has been confirmed, symbolizing the start of full implementation of cross-border trade settlement in Chinese currency.

In March, the PBC, the Ministries of Finance and Commerce, the General Administration of Customs, the State Administration of Taxation, and the China Banking Regulatory Commission co-released a notification on relaxing control of international trade yuan settlement units.

The PBC asserted that the pilot companies are not allowed to leave abroad capital achieved from international trade settlements in yuan.

The six ministerial departments will cooperate on supervision and inspection over the listed enterprises.