Yunnan sees more connectivity and opening-up

Unimpeded trade 

As for Uonpyaw, a Mandalay driver and cross-border trader, his life bettered off thanks to the unimpeded trade between China and Myanmar. 

Every month, the Myanmar businessman has two business tours between west Yunnan’s border town of Ruili and Yangon, selling Myanmar produces and Chinese products. 

“By doing so, I can earn a monthly income of 300,000 kyats (around 1,500 yuan),” said the 35-year-old Myanmar businessman. 

Now, Yunnan has 25 land ports/towns bordering Myanmar, Laos and Vietnam. And cross-border trade is generally thriving. 

Financial integration

In January 2014, the Kunming-based Fudian Bank and the Banque Pour Le Commerce Exterieur Lao Public (BCEL) jointly set up the Lao-China Bank (LCNB) in Vientiane, providing loans to local SMEs. 

By 2016, the LCNB approved 9 batches of loans to local startups. 

Yunnan is one of two pilot areas for cross-border financial reform in China. As of now, banks based in Yunnan have presence in 75 countries and regions for cross-border RMB settlements. 

People-to-people bond

Increased economic cooperation leads to closer people-to-people bonds between China’s Yunnan and its neighbor countries.

At south Yunnan’s Hekou-Lao Cai cross-border economic zone, a Vietnamese woman surnamed Nguyen is working as a HR officer of the Chinese HKC Group. 

Graduated as a Chinese major from Huaqiao University years ago, Nguyen used to work as a Chinese and Vietnamese teacher, but she hopped to the present job. She said her second choice is right. 

In 2017, the border town of Hekou set up a cross-border workers service center, cementing the people-to-people bonds. 

Editing by Zhu Dongran, Wang Shixue