Date
20 October 2017

RMB gains in Guangdong cross-border trade, Yicai says

As much as 22.3 percent of cross-border transactions in Guangdong province are conducted in renminbi, making it the second largest currency for such transactions behind the US dollar, news website Yicai.com reported Thursday, citing Li Simin, vice president of the provincial branch of the People’s Bank of China. Guangdong accounts for one third of the country’s settlement business, and has accumulated 1.22 trillion yuan (US$199.92 billion) for the first three quarters this year, having already surpassed last year’s total amount. As of September 2013, Guangdong has conducted cross-border renminbi settlement with 184 countries and regions, up by 22 from the previous year, the report said.

– Contact HKEJ at [email protected]

EL/AC/CG

 

 

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