With its best-ever first-half economic performance, Kunming is flexing its muscles as the center of regional cooperation between China, Southeast Asia and South Asia.
A trial program for cross-border trade payments in renminbi is now underway in Kunming as part of China's push to slowly internationalize its currency.
Export companies in Yunnan are hoping a new cross-border renminbi currency settlement regime will protect them from the higher costs and uncertainty of today's dollar-denominated system.
