Yuan payments in global trade exceeded 3% for first time in Jul, 24% of goods trade payment made in yuan – PBOC official
DATA FOREX
Yuan payments in global trade exceeded 3% for first time in Jul, 24% of goods trade payment made in yuan – PBOC official
DATA FOREX

Yuan payments in global trade exceeded 3% for first time in Jul, 24% of goods trade payment made in yuan – PBOC official

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

The share of payments in Chinese yuan in the world’s total trade payments exceeded 3% in July for the first time, said Jin Zhongxia, head of the PBOC’s international department.

Some 24% of payments for trade of goods were made in the yuan in the 7-month period, marking the highest percentage in recent years, Jin said, while the balance of yuan-denominated assets held by overseas investors reached 9.8 trillion yuan as of the end of June.

Looking ahead, China’s opening-up of the financial sector will focus on enhancing management of the pre-establishment national treatment plus negative list to form a systematic and institutional opening-up; optimizing the business environment, and ensuring that financial management capabilities match the degree of opening-up, he said.