Increase in RMB settlement in countries along the "Belt and Road"

The People's Bank of China recently said that in 2021, the amount of RMB cross-border receipts and payments between China and countries along the "Belt and Road" will be 5.42 trillion yuan, up 19.6% year on year.

It was reported that in a report released recently, the bank said that in 2021, the amount of cross-border receipts and payments of RMB between China and countries along the "Belt and Road" accounted for 14.8% of the total amount of cross-border receipts and payments of RMB in the same period.

During the reporting period, the amount of cross-border receipts and payments of RMB in the field of goods trade and direct investment between China and countries along the "Belt and Road" increased by 14.7% and 43.4% year on year respectively.

According to the report, by the end of 2021, China has signed bilateral local currency swap agreements with 22 countries along the "Belt and Road" and established RMB clearing mechanism arrangements in 8 countries along the "Belt and Road".

In addition, it was reported on the website of today's Russian TV station on September 28 that Zahid Ali Khan, president of باكستان Trade Association, said recently that Pakistan is considering the possibility of trade settlement with روسيا in rubles and RMB.

Zahid Ali Khan said: "We are still using dollars for trade settlement, which is a problem... We are considering using rubles or RMB, but this has not been finally decided."

According to the report, the official pointed out that the trade settlement may change to ruble RMB next year.

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