27 February 2020

Cross-border RMB deals hit 8.6 trn yuan as of Sept, paper says

Cross-border renminbi transactions have been conducted in 220 countries and regions involving 8.6 trillion yuan (US$1.4 trillion) as of the end of September, People’s Daily reported Monday, citing a commerce ministry official. During the nine months to September, yuan-denominated overseas direct investment by domestic entities amounted to 52.31 billion yuan, up 136.7 percent from a year ago, while yuan-denominated foreign direct investment in China increased 81.4 percent to 280.27 billion yuan, the report said. China has also signed currency swap contracts worth nearly 2.5 trillion yuan with 23 countries and regions by the end of September, it added.

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