Yunnan’s cross-border RMB business grows by 5.59% in 2020

The cumulative amount of cross-border renminbi settlement in Yunnan province added up to 66.24 billion yuan (about 10.26 billion U.S. dollars) in 2020, said a local branch of China’s central bank.

The figure means a year-on-year increase of 5.59 percent, according to the Kunming branch of the People's Bank of China.

Over the past year, the provincial total sum of exchange, settlement and sales was calculated at 11.93 billion U.S. dollars, a decrease of 14.18 percent year on year.

As of the year end, Yunnan's balance of foreign loans reached 4.57 billion U.S. dollars, up by 15.29 percent year on year.

The renminbi accounted for 38.54 percent of the total cross-border incomes and expenditures, remaining the second largest cross-border settlement currency in the province.

Reporting by Yang Shuyan (Yunnan Daily); Trans-editing by Wang Shixue