Last year, the cross-border renminbi receipts and payments amounted to nearly 20 trillion yuan
This paper, Beijing, August 14 (Reporter Xu Peiyu) The People's Bank of China released the "Renminbi Internationalization Report 2020" on the 14th, showing that in 2019, the cross-border use of RMB has grown rapidly against the trend, and the amount of RMB cross-border receipts and payments throughout the year A total of 19.67 trillion yuan, a year-on-year increase of 24.1%, continued to maintain rapid growth on the basis of last year's rapid growth, and the amount of receipts and payments hit a record high. The RMB cross-border revenue and expenditure were generally balanced, with a net inflow of 360.6 billion yuan. Cross-border receipts and payments in RMB accounted for 38.1% of the total cross-border receipts and payments in domestic and foreign currencies during the same period, a record high and an increase of 5.5 percentage points from the previous year.
According to the "Report", in 2019, the renminbi ranked 5th among the currency composition of reserve assets held by IMF member states, with a market share of 1.95%, which is 0.88 percentage points higher than when the renminbi first joined the SDR basket in 2016; The renminbi's market share in global foreign exchange transactions was 4.3%, an increase of 0.3 percentage points from 2016; according to the latest statistics, the renminbi ranks fifth among the major international payment currencies, with a market share of 1.76%.
The "Report" pointed out that in 2019, the internationalization of the renminbi will reach a new level, the renminbi payment currency function continues to strengthen, the investment and financing currency function continues to deepen, the reserve currency function gradually emerges, the pricing currency function has further achieved breakthroughs, and the renminbi continues to remain in the global currency system A stable position in China.