CHINA CONGRESS:Guangxi May Launch Yuan Settlement Trial In 09

CHINA CONGRESS:Guangxi May Launch Yuan Settlement Trial In 09

BEIJING -(Dow Jones)- Guangxi may launch a trial to allow the yuan to be used to settle international trade transactions this year, but neighboring Yunnan province will likely launch its trial first, a People's Bank of China official from the province said Saturday.

"Yunnan may be able to launch the trial as soon as the first half of this year, but they have their timetable and we have ours," said Huang Liangpi, the deputy chief of the PBOC's Nanning center sub-branch.

"The financial institutions in our region are less developed. We will, however, make an effort to get the trial program launched this year."

Huang also said that no foreign banks have applied to take part in the trial. He declined to say which Chinese banks had applied.

He was speaking on the sidelines of the National People's Congress.

-By Michelle Ng, Dow Jones Newswires; 8621 6120-1200; michelle.ng@dowjones.com

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