BUSINESS RMB cross-border payments surge in Q3

BUSINESS

RMB cross-border payments surge in Q3

Xinhua

14:18, November 23, 2019

RMB.jpg

File photo: AFP

BEIJING, Nov. 23 (Xinhua) -- RMB cross-border payments maintained rapid growth in the third quarter of 2019, data from the central bank showed.

In Q3, a total of 512,500 transactions were processed via the RMB cross-border payment system, increasing 34.41 percent from the same period last year, said the People's Bank of China in a report.

The value of these transactions surged 34.48 percent year on year to 9.43 trillion yuan (about 1.34 trillion U.S. dollars).

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