GE Haijiao, chairman of the Bank of China, suggested that the Shanghai Free Trade Zone should expand its local currency settlement, investment and financing activities with ASEAN and other important trading partners.

[bank of China Chairman GE Haijiao: proposal for Shanghai Free Trade Zone to expand local currency settlement and investment and financing activities with ASEAN and other important trading partners] Fannie FTA, with regard to the development of Shanghai Free Trade Zone, GE Haijiao, chairman of the Bank of China, suggested at the 14th Lujiazui Forum today that in the future, we can take the construction of international financial assets trading platform as an opportunity to strengthen the interaction between Shanghai and other overseas and domestic investment and financing markets. We will actively promote the cross-border use of RMB within the framework of RCEP, and expand local currency settlement, investment and financing activities with ASEAN and other important trading partners. In addition, he also suggested that the scope of commodities and transactions denominated and settled in RMB could be expanded and the establishment of a domestic offshore trading market in RMB could be explored. (Xu Chuan, reporter of the Financial Associated Press)