BUSINESS Cross-border trade settlement in renminbi at 633.8 billion yuan in November

BUSINESS

Cross-border trade settlement in renminbi at 633.8 billion yuan in November

Xinhua

21:28, December 09, 2020

Renminbi-denominated cross-border trade settlement hit 633.8 billion yuan (about 97.06 billion U.S. dollars) in November, central bank data showed Wednesday.

A bank clerk counts the Chinese yuan in Jiangsu province on July 24, 2018. (Photo: VCG)

Of the total, 445.8 billion yuan came from cross-border trade in goods, and 188 billion yuan came from cross-border trade in services and other current account items, said the People's Bank of China.

Yuan-denominated direct investment settlement stood at 313.1 billion yuan in November, with 88 billion yuan from outbound direct investment and 225.1 billion yuan from inbound foreign direct investment.

In 2019, yuan-denominated cross-border trade settlement amounted to 6.04 trillion yuan.

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