China's central bank announced Monday that the country's cross-border RMB settlement has exceeded 4.8 trillion yuan ($781.31 billion) by the end of September this year.
The People's Bank of China (PBOC) announced on its website that the 4.8-trillion-yuan settlement helped RMB become China's second largest cross-border payment currency.
"Reform and opening-up boosts the RMB settlement businesses," the PBOC's vice governor Hu Xiaolian said. "RMB's internationalization contributes a lot to global financial market."
The pilot cross-border RMB settlement was approved by the State Council in July 2009, which stood at only 3.58 billion yuan ($582.72 million) by the year end, according to the PBOC.
(Xinhua News Agency October 20, 2014) |