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China's Yunnan Province speeds up financial integration with neighboring countries
5/18/2017


Yunnan Province is one of the only two border pilot zones for comprehensive financial reform in China, and its cross -border RMB business covers 75 countries and regions.

Thiva Hand Silk is a Lao company doing business in silk skirts and shawls. With an increasing number of orders, its original factory couldn't meet the production needs. However, the expansion cost was a problem for the enterprise. So its owner came to the Lao China Bank to seek help and successfully got its first SME loan, a World Bank product to promote small and medium enterprise development in Laos. 

Lao China Bank is a financial institution jointly owned and established by Fudian Bank from Yunnan Province and Foreign Trade Popular Bank from Laos. It is also the first bank jointly owned by China and Laos and approved by the China Banking Regulatory Commission and the Central Bank of Laos. By the end of 2016, the bank has approved 9 SME loans involving multi industries in trade, building, and handicrafts.

At present, Yunnan is committed to achieving financial integration with neighboring countries. It is one of the only two border pilot zones for comprehensive financial reform in China, and its cross -border RMB business covers 75 countries and regions. 

(Zhang Ruogu, Jing)


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