China's RMB cross-border payments post steady growth in 2022: report

The business volume and transaction value of cross-border payments made in renminbi (RMB) maintained steady expansion levels in 2022, a central bank report shows.

During the period, over 4.4 million transactions were handled through China's RMB cross-border payment system, surging 31.68 percent year on year, according to the People's Bank of China.

The total value of these transactions was 96.7 trillion yuan (about 14.14 trillion U.S. dollars), up 21.48 percent from the same period last year, the report said.

Some 17,700 transactions on average were processed daily in the period, with a transaction value of about 388.34 billion yuan.