金融英语阅读：Cross-border yuan trial use is increased
The nation said Monday it has increased the number of firms allowed to use the yuan to settle international transactions to 67,359 from 365, in the latest step towards making the unit a global currency.The expanded list of companies in 16 regions participating in the country's yuan cross-border settlement trial is aimed at "making trade and investment more convenient," the People's Bank of China said on its website.
The country pledged last December to eventually expand the trial program to the entire country and increase the number of companies permitted to use the yuan to settle overseas transactions.
The program covers all foreign countries.
The trial is aimed at increasing the currency's international use and making it convertible and comes amid intense pressure on Beijing to let the yuan appreciate at a faster pace against the dollar.
From June to November, banks handled 340 billion yuan ($50.56 billion) worth of yuan settlements for cross-border trade, more than seven times the amount in the preceding period, the central bank said, without specifying the months.
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