Payment news, June 22

China expands its RMB cross-border trade settlement programme, while US Ex-Im lends to Vietnam.

RMB trade settlement scheme expanded

Chinese officials have announced that the country's cross-border trade settlement programme will be expanded to approved corporates in 20 provinces, up from an initial two. The move is the latest government effort to internationalise the renminbi, a policy that began in 2009.

Launched last year, the trade settlement scheme allows approved users to settle cross-border trade transactions with Hong Kong, Macau and select Asean Association of Southeast Asian Nations states in the Chinese...

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