Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Agricultural Development Bank of China
Data

Xinjiang's cross-border RMB settlement hits 261 bln yuan since 2010

February 09, 2018


Abstract : Cross-border RMB settlement in northwest China's Xinjiang Uygur Autonomous Region has exceeded 260 billion yuan (41 billion U.S. dollars) since the region launched the business in 2010.

URUMQI, Feb. 8 (Xinhua) -- Cross-border RMB settlement in northwest China's Xinjiang Uygur Autonomous Region has exceeded 260 billion yuan (41 billion U.S. dollars) since the region launched the business in 2010.

As of January, Xinjiang had conducted cross-border RMB settlement with 90 countries and regions. More than 2,500 companies in China have settled 261 billion yuan of cross-border trade over the past seven years, according to the Urumqi branch of the People's Bank of China.

With the promotion of Belt and Road Initiative, Xinjiang, an important commercial hub along the Silk Road Economic Belt, has seen its trade activity with countries in Central Asia booming. The business provides support to expanded use of yuan in cross-border trade.

In 2017, the actual settlement volume of cross-border RMB in Xinjiang rose by 45.6 percent to 37.8 billion yuan, accounting for 37 percent of the total cross-border transactions in the region. Enditem

Scan the QR code and push it to your mobile phone

Keyword: cross-border Xinjiang RMB settlement

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial