China's RMB cross-border payments see steady expansion in 2022: PBOC

28 Mar 23 1 min read

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.

Advertisement

Fibre2Fashion News Desk (DS)

Related News

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.

Latest News

E-commerce Generative AI can cut info overload, raise loyalty, sales: Accenture
27th May 2024 3 min read

E-commerce China’s online retail sales rise 11.5% to $620.52 bn in Jan-April
23rd May 2024 1 min read

E-commerce Online sales of innerwear soar by over 80% in FY24: Unicommerce
22nd May 2024 3 min read

E-commerce US online spending hits $331.6 bn in Jan-April 2024: Adobe
14th May 2024 2 min read

Category Tags

Textile Apparel Fashion Retail E-commerce Technology Sustainability View More

Popular News

US’ Dick's Sporting Goods’ net sales rise 6.2% to $3.02 bn in Q1 FY24

US retailer Ross Stores posts net earnings of $488 mn in Q1

PVH signs agreement for Cambodian garment workers

South Indian cotton yarn prices stable with optimism for future demand

IFC launches Dutch-backed textile sector project in Jordan

Italy’s consumer confidence index up from 95.2 to 96.4 in May: Istat