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China's RMB cross-border payments see steady expansion in 2022: PBOC
28 Mar '23
1 min read
Pic: Shutterstock
The business volume and transaction value of cross-border payments in China made in renminbi (RMB) expanded steadily last year, according to a report by the People's Bank of China (PBOC) that shows over 4.4 million transactions were handled through the country’s RMB cross-border payment system, surging 31.68 per cent year on year.
The total value of these transactions was 96.7 trillion yuan ($14.14 trillion), up by 21.48 per cent year on year, the report said.
Nearly 17,700 transactions were processed daily during the year on an average, with a transaction value of about 388.34 billion yuan, a state-controlled news agency reported.
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