A video conference was held on July 8 in Fuzhou government to discuss issues over pilot projects of cross—border yuan settlement.

The pilot projects are central to further adjusting local economic structure and plays a positive role in increasing exports and maintaining a sound economic growth. Each department of the government is asked to:

1) strengthen coordination between different departments and encourage those enterprises willing to join the program with favorable policies

2) to maintain cooperation with European and American partners while branch out business operation in Latin American and ASEAN countries. At the same time, we have to implement market diversifications to cast the net far and wide.

3) encourage enterprises to test the waters overseas and to increase their direct investment. Efforts should be taken to carry out merger &acquisition and establish international brands.

4) Seize the moment and advance upgrading campaigns of labor-intensive industries.

By Xu Xinlei