国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Finance

A record year for foreign renminbi exchange

By Yang Ziman (China Daily) Updated: 2014-02-19 08:52

The Cross-border RMB Index developed by Bank of China Ltd to measure renminbi activity in the global market rose by a record 56 points in the fourth quarter of 2013 year-on-year, BOC reported Tuesday.

The index stood at 228 in December, breaking the threshold of 200 for the first time.

"The growing profile of China's trade in the global market has boosted the growth of renminbi settlement," said BOC President Chen Siqing. "In the fourth quarter last year, renminbi settlement in China's imports and exports increased by 30 percent over the previous quarter, pushing CRI up by 20 points."

A record year for foreign renminbi exchange

Yuan influence on the rise worldwide

A record year for foreign renminbi exchange 

Yuan use rises to 8th position

In 2013, China's merchandise trade exceeded $4 trillion, making it the world's No 1 trading country.

Total cross-border renminbi settlement was 5.16 trillion yuan, up 61 percent year-on-year. Under the current account, the proportion of yuan-dominated merchandise trade went from 5.5 percent in 2011 to 11.7 percent in 2013. In terms of capital account, renminbi-dominated direct investment increased by 130 percent from the end of 2012.

"The globalization of the renminbi is growing at a remarkable pace," said Chen. "The outflow of the currency has been consistently higher than inflow as the offshore yuan market expands."

In 2013, about 500 billion yuan ($82.4 billion) entered overseas markets through trade or investment. It is estimated that the renminbi in overseas market may have exceeded 1.5 trillion yuan.

According to BOC statistics, dollar activity in the fourth quarter last year increased by 2 percent from the second quarter. Meanwhile, euro, pound and yen activity decreased.

In comparison, renminbi activity increased by 23 percent during the same period. "Although renminbi is becoming more active overseas, we still have a long way to go to internationalize the currency," Chen said.

Chen sees another record rise in the currency's profile due this year, saying BOC's clients have reported higher confidence in yuan-dominated settlement.

In a survey among 3,000 global companies in 2013 by BOC, more than 70 percent said they believe the renminbi would become a major international currency.

Among overseas companies surveyed, 61 percent said they would begin using renminbi or increase its proportion for settlement, while 79 percent said the reason they were going to use renminbi more frequently was because of deeper economic association with China's mainland.

BOC continues to take the lead in yuan-dominated settlement. In 2013, BOC's cross-border renminbi-dominated settlement exceeded 3.98 trillion yuan, rising by 60 percent year-on-year. Its domestic settlement was 1.77 trillion yuan, taking up one-third of the market, much greater than other commercial banks.

Hot Topics

Editor's Picks
...
...
望都县| 建阳市| 临泉县| 靖江市| 萝北县| 海晏县| 沂水县| 宝坻区| 玉溪市| 鹿邑县| 廊坊市| 茂名市| 汪清县| 思茅市| 临江市| 大英县| 芮城县| 田东县| 财经| 老河口市| 开鲁县| 绵竹市| 镇沅| 祁门县| 眉山市| 鄂托克旗| 高州市| 玛曲县| 霍林郭勒市| 正镶白旗| 甘洛县| 宽城| 龙江县| 湘阴县| 华坪县| 福海县| 灵寿县| 临泉县| 九江县| 新野县| 鹤山市|