Xiamen cross-border RMB settlement keeps growing rapidly
(chinadaily.com.cn), Updated: 2016-08-24
From January to July this year, the total sum of Xiamen's cross-border RMB settlement amounted to 142.0 billion yuan ($21.3 billion), rising by 17.6 percent over last year.
In the seven months period, the cross-border yuan settlement under capital account grew 48.3 percent to reach 80.8 billion yuan, accounting for 56.9 percent of the total.
The import business has been accruing rapidly as well. The value of imported goods and services came to 15.2 billion yuan and 6.4 billion yuan, up by 43.6 percent and 22.5 percent respectively.
The overall settlement amount of export transactions saw a marked decrease from expectation of yuan devaluation. The settlement volumes of exported merchandise and services declined by 20.2 percent and 29.0 percent respectively.