China Guangxi launches regional cross-border RMB business platform
NANNING, Jan. 4 (Xinhua) -- South China's Guangxi Zhuang Autonomous Region has officially launched regional cross-border Renminbi business platform, according to the Nanning branch of the People's Bank of China, China's central bank.
Some 2,500 offices of 47 banks in Guangxi will be able to conduct RMB cross-border business upon completion of the platform.
The platform is originated from Guangxi electronic financial settlement system and will be built as a "highway system" for RMB fund flows that cover Hong Kong, Macao, the Association of Southeast Asian Nations and south Asian countries.
The platform started trial run on October 20, 2014, and the Industrial and Commercial Bank of China, the Bank of China and the China Construction Bank have joined the platform. (Edited by Yang Qi, email@example.com)