(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.
Pope trip to Luxembourg, Belgium confirmed for September, 2 weeks after challenging Asia visit
Facilitating Early Education in Neighborhoods
Kyrgyz Woman Finds Love, Career in Xi'an
Tracing Origin of Spring Festival in Langzhong
Rural Woman Establishes Museum to Display Unique Charm of Miaos' Embroideries
Shadow Puppets Display Charm of Ice Sports
Much at stake for Barca, Xavi in Napoli trip
Key evidence in the 'burking' murder trial was 'hidden' from defence lawyers
Village Official Leads Farmers in Promoting Rural Revitalization