NANNING, June 24 (Bernama) -- Guangxi Zhuang Autonomous Region on Thursday launched its cross-border renminbi (RMB) trade settlement pilot programme at the border town of PingXiang, less than 24 hours after the State Council approved its extension to another 18 provinces and municipalities.

The Finance Office of Guangxi said as at noon Thursday, it has transacted 55 cross-border trade settlements, amounting to 88 million RMB, with Singapore, Vietnam and other members of the Association of South-East Asian Nations (Asean).

Guangxi's deputy governor, Li Jinzao, said the programme would boost China-Asean trade.

"Guangxi has been in the forefront of China-Asean trade and the programme will certainly benefit enterprises of both sides," he said at the ceremony to launch the programme here Thursday.

Li hoped that Asean countries' consulates here and Guangxi officials would give their support and work together towards a win-win partnership.

Earlier, director-general of the Finance Office, Zhao Deming, said the regulations and operation procedures for participating enterprises and banks under the pilot programme had been formulated.

He said the Chinese banks had held talks with commercial banks of Vietnam, Singapore and Indonesia to boost the programme.

Zhao said todate, over 500 enterprises had applied to participate in the programme.

-- BERNAMA