New financial reform pilot zone to boost local economy
The new financial reform pilot zone in southwest China, in the Yunnan-Guangxi border, approved on Tuesday, is the biggest of its kind.
The move was designed to strengthen ties with South and Southeast Asian countries, and is expected to give a shot in the arm to the local economy, regional trade and to China's financial reforms.
The Yunnan-Guangxi border pilot zone for comprehensive financial reforms will include nine cities and prefectures in Yunnan Province and six cities in the Guangxi Zhuang Autonomous Region, covering an area of 317,700 square kilometers with a population of 44 million.
Seven of the Yunnan cities and prefectures in the pilot plan share a border of more than 4,000 kms with Vietnam, Laos and Myanmar, while the pilot cities in Guangxi neighbor Vietnam.
