Myanmar seeks closer China ties with Renminbi trade project

Myanmar will start accepting Chinese yuan as an official settlement currency next year. - Reuters

YANGON (Reuters): Myanmar will start accepting Renminbi as an official settlement currency next year for trade with China, it said on Wednesday (Dec 22), as it looks to restart several joint projects and forge closer economic ties with Beijing.

Myanmar's junta, which seized power in a Feb 1 coup, said in a statement it enjoyed a special "kinship" with China, which has supported it financially and with Covid-19 vaccines.