Cross-border use of RMB rises in 2021

0 Comment(s)Print E-mail Xinhua, September 24, 2022
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The cross-border use of RMB reached 36.61 trillion yuan (5.24 trillion U.S. dollars) in 2021, up 29 percent year on year, China's central bank said Friday.

This included 18.51 trillion yuan in receipts and 18.1 trillion yuan in payments, said a report released by the People's Bank of China.

The net inflow of cross-border RMB settlements stood at 404.47 billion yuan last year, compared with the net outflow of 185.79 billion yuan in the previous year.

Cross-border RMB settlements accounted for 47.4 percent of all cross-border domestic and foreign currency settlements in 2021, up 1.2 percentage points from the previous year.

In the first six months of 2022, the cross-border use of RMB stood at 20.32 trillion yuan, up 15.7 percent year on year. Its share against all cross-border domestic and foreign currency settlements stood at 49.1 percent.

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