Lates News

Shi Jiandong, Deputy Director of the Macro Prudential Management Department of the Shanghai Head Office of the People's Bank of China, stated at a press conference when introducing the characteristics of Shanghai's cross-border RMB business that, first, the scale of RMB cross-border payments and receipts continues to grow. The amount of RMB cross-border payments and receipts in Shanghai reached 32.4 trillion yuan, a year-on-year increase of 9%, accounting for 46% of the national total, and continuing to rank first in the country. Among them, the amount of RMB cross-border payments and receipts under securities investments reached 24.2 trillion yuan, accounting for more than 70% of the total, playing an important role in enhancing Shanghai's position as a global center for RMB asset allocation.