Xinjiang's RMB cross
(ECNS) -- The cross-border settlement of Chinese yuan, or RMB, of enterprises in Xinjiang Uyghur Autonomous Region registered a new high to 52.8 billion yuan (about $7.23 billion) in 2023, a year-on-year growth of 13.3 percent, said Xu Ke, vice governor at Xinjiang branch of People's Bank of China during a press conference on Monday.
A total of 1,102 enterprises in Xinjiang handled the cross-border RMB receipts and payment business in 2023, an increase of 312 compared to 2022, according to the data.
Actual cross-border RMB settlements of bulk commodity trade and petty trade increased by 20 percent and 51 percent respectively in Xinjiang in 2023. Cross-border RMB settlement with 10 adjacent countries was up 55 percent year-on-year. RMB usage in cross-border trade with Russia and Mongolia accounts for more than 90 percent, becoming the preferred payment currency.
Pilot enterprises' cross-border RMB settlement stood at 15.7 billion yuan in 2023, accounting for 30 percent of the total in Xinjiang.
Related articles
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
WICHITA, Kan. (AP) — Fast-moving storms with strong winds, large hail and apparent tornadoes swept O2024-05-21Haiti violence: Transitional council embraces new changes following turmoil
PORT-AU-PRINCE, Haiti (AP) — A transitional council tasked with choosing new leaders for Haiti is ch2024-05-21House quickly rejects motion to oust Speaker Johnson
WASHINGTON (AP) — Hardline Rep. Marjorie Taylor Greene tried and failed in sudden action Wednesday t2024-05-21Think tank report highlights China's approach to modernization
PARIS, May 4 (Xinhua) -- A report released by Chinese think tanks here on Saturday introduced the pr2024-05-21Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
NEW YORK (AP) — Saudi Arabia’s move into tennis will now include a multiyear deal to sponsor the WTA2024-05-21Stock market today: Global shares mixed after Wall Street's lull stretches to a 2nd day
HONG KONG (AP) — World shares were mixed on Thursday after Wall Street’s lull stretched into a secon2024-05-21
atest comment