Cross-border use of RMB up 8% in first three months

BEIJING -- The cross-border use of RMB reached 9.7 trillion yuan ($1.45 trillion) in the first quarter of 2022, up 8 percent year-on-year, China's central bank said.

This included 4.8 trillion yuan in receipts and 4.9 trillion yuan in payments, said a report released by the People's Bank of China.

Cross-border RMB receipts and payments under current accounts totaled 2.1 trillion yuan, up 23 percent year-on-year.

Of this figure, the RMB receipts and payments of goods trade stood at 1.6 trillion yuan, and those of service trade and other current accounts totaled 478.3 billion yuan.

The figure for cross-border RMB receipts and payments under capital accounts was 7.6 trillion yuan, up 5 percent year-on-year.