Yiwu becomes latest region to embark on financial reform

Yiwu's government on Tuesday released a seven-point financial-reform plan that aims to build the export-oriented city in Zhejiang province into a financial trading center for local exporters.

The plan includes a trial program for individual cross-border yuan trade settlements.

The draft plan, originally submitted by the city on Dec 26, 2012, was approved by the State Council on Aug 23.