Yuan-settlement test to start (Jan 7)

CHINA'S central bank said yesterday that it plans to implement a pilot program that would settle overseas trade with the Chinese currency instead of the US dollar.

The People's Bank of China will expand financial cooperation with overseas economies and "properly deal with the global financial crisis," the central bank said.

For more reading: http://www.shanghaidaily.com/sp/article/2009/200901/20090107/article_387229.htm