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Published: 12:01, April 04, 2022 | Updated: 18:28, April 04, 2022
PBOC: China's RMB cross-border payments soar in 2021
By Xinhua
Published:12:01, April 04, 2022 Updated:18:28, April 04, 2022 By Xinhua

In this undated photo, a Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. (PHOTO / IC VIA CHINADAILY.COM.CN)

BEIJING - The business volume of cross-border payments of the Chinese currency renminbi grew rapidly in 2021, a report from the People's Bank of China showed.

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Last year, over 3.34 million transactions were handled through China's RMB cross-border payment system, surging 51.55 percent year on year, according to the central bank.

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The total value of these transactions stood at 79.60 trillion yuan ($12.53 trillion), jumping 75.83 percent from a year earlier.

On average, some 13,400 transactions were processed daily last year, with an amount of 318.4 billion yuan, the report stated.

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