Myanmar and China to use renminbi for cross-border trade
Reports indicate that authorities will pilot settling small-scale trade transactions in yuan
Authorities in Myanmar will begin allowing the use of renminbi for cross-border trade, according to government-aligned media in both countries.
Myanmar is ruled by a military junta that seized power on February 1, and which is closely allied to China. The announcement appears to indicate that China’s government has stepped up its support for the new regime. The Global New Light of Myanmar, a government newspaper, reported that the country’s central bank issued a notice on December 14 permitting
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