BUSINESS China's RMB cross-border payments soar in 2021: PBOC

BUSINESS

China's RMB cross-border payments soar in 2021: PBOC

CGTN

12:27, April 05, 2022

File photo: VCG

The business volume of cross-border payments of the Chinese yuan, or the RMB, grew rapidly in 2021, a report from the People's Bank of China showed.

Last year, over 3.34 million transactions were handled through RMB cross-border payment system, surging 51.55 percent year on year, according to the central bank.

The total value of these transactions stood at 79.60 trillion yuan ($12.53 trillion), jumping 75.83 percent from a year earlier.

On average, some 13,400 transactions were processed daily last year, with an amount of 318.4 billion yuan, the report stated.

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