China Mulls Expansion Of Yuan Trade Program

Law360, New York (August 24, 2009, 3:31 PM EDT) -- As part of a push to internationalize China's currency, government officials are reportedly considering whether to broaden a trial program that allows imports and exports to be paid for in yuan.

Li Bo, head of the legal affairs department at the People's Bank of China, said that the government may expand the pilot program to additional provinces beyond Shanghai and Guangdong, which were part of the initial launch, and may start to add more countries to the program, Reuters reported Monday.

China's foreign trade is largely...
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