The Bank of China is taking part in the new initiative.
Cheng Jun, manager of its Finance Department, says the pilot project shows that the RMB has become more widely accepted internationally.
"Foreign money is not the only option now in the zone, making it possible for individuals and companies to do international trading online; Previously, Euros and US dollars were used. Now, RMB is available. This is a significant step for Chinese traders, allowing them to go international with much convenience. Especially for those young people who like online shopping, risks and shopping expenses have been cut. RMB has become popular worldwide."
The new policy has indeed made things easier when it comes to online shopping. Online payers say prices marked
