2024 Q1-Q3 Renminbi use in cross-border trade increases 21.1% to 41.6 trillion yuan ($5.94 trillion), constituting 26.

In the first eight months of 2024, the use of the Chinese Renminbi (RMB) in cross-border trade surged by 21.1%, totaling 41.6 trillion yuan ($5.94 trillion), as reported by the People's Bank of China. The RMB accounted for 26.5% of total goods trade settlements, up from 24.8% in 2023, while service trade usage rose 22.3%. The central bank aims to enhance market access, financial infrastructure, and regulations for cross-border RMB transactions moving forward.

October 05, 2024
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