PBOC report: RMB becomes China’s top settlement currency, second-largest trade finance currency globally
The People's Bank of China released its 2026 Renminbi Internationalization Report on September 24, showing the renminbi became China’s largest cross-border settlement currency and the world’s second-largest trade finance currency. Cross-border RMB receipts and payments totaled 42.4 trillion yuan in H1 2026, up 21.4% year-on-year. Foreign holdings of onshore RMB financial assets reached 11.3 trillion yuan as of June 2026, up 9.2% year-on-year. Offshore RMB deposits hit a record high of about 1.8 trillion yuan.
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RMB Becomes China's Top Settlement Currency, Second Largest Trade Finance Currency Globally
According to a recent report from the People's Bank of China (PBOC), the renminbi (RMB) has become the largest settlement currency for China's cross-border receipts and payments, the second largest trade finance currency globally, the third largest payment currency (on a full-caliber basis), and the fifth largest foreign exchange trading currency. The report states that in 2025, bank cross-border RMB receipts and payments totaled 70.6 trillion yuan, up 10.1% year-on-year, and in the first half of 2026, the figure reached 42.4 trillion yuan, up 21.4%. The RMB's weight in the IMF's SDR basket ranks third globally. The PBOC highlighted that cross-border RMB business services for the real economy have improved, with trade settlement rising. The report also noted enhanced RMB investment and financing functions, citing growth in panda bond issuance and foreign holdings of RMB assets. The international network for RMB use is expanding through bilateral swap agreements, new clearing banks, and the CIPS system. The offshore RMB market is also developing steadily, with record-high deposits and a surge in offshore bond issuance.
Read sourcePBOC: Renminbi Becomes Top Settlement Currency for China's External Payments, Second Largest Trade Finance Currency Globally
According to a report from the People's Bank of China (PBOC), the renminbi (RMB) has become the largest settlement currency for China's external receipts and payments, the second largest trade finance currency globally, and the third largest payment currency by full-caliber measurement. The report, published by Zhitongcaijing, cites PBOC data showing that in 2025, bank-agency RMB cross-border receipts and payments totaled 70.6 trillion yuan, up 10.1% year-on-year. In the first half of 2026, the figure reached 42.4 trillion yuan, a 21.4% increase. The RMB's weight in the IMF's SDR basket ranks third globally. The PBOC highlighted that cross-border RMB business services for the real economy continue to improve, with trade settlement in RMB reaching 13.7 trillion yuan in 2025, accounting for 28.7% of total cross-border trade settlement. The report also noted enhanced RMB investment and financing functions, with offshore RMB bond issuance surging 94.4% in the first half of 2026 compared to the same period in 2025. The PBOC has expanded bilateral currency swap agreements and the CIPS system to broaden the RMB's international network.
Read sourceChina's PBOC Reports QDII/RQDII Cross-Border Yuan Flows at 80.13 Billion Yuan
On September 24, the People's Bank of China (PBOC) released its 2026 Renminbi Internationalization Report, which disclosed that from January to June 2026, the total cross-border renminbi receipts and payments under the Qualified Domestic Institutional Investor (QDII) and Renminbi Qualified Domestic Institutional Investor (RQDII) programs amounted to 80.13 billion yuan. This data point provides a snapshot of the scale of outbound investment flows denominated in the Chinese currency during the first half of the year, reflecting ongoing trends in the international use of the renminbi. The report is an official publication by China's central bank, offering key statistics on the progress of renminbi internationalization.
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PBOC: Foreign Holdings of Chinese Stocks Reach 4.7 Trillion Yuan as of End-June 2026
According to a report from the People's Bank of China (PBOC) released on September 24, 2026, foreign entities held 4.7 trillion yuan in domestic stocks as of the end of June 2026, accounting for approximately 3.9% of the total A-share market value. The report, covering the internationalization of the renminbi (RMB), stated that from January to June 2026, bank-agency cross-border RMB receipts and payments totaled 42.4 trillion yuan, up 21.4% year-on-year. The RMB has become China's largest settlement currency for cross-border payments, the world's second-largest trade finance currency, third-largest payment currency, and fifth-largest foreign exchange trading currency. As of end-June 2026, foreign holdings of RMB financial assets (stocks, bonds, loans, and deposits) reached 11.3 trillion yuan, up 9.2% year-on-year. The report also noted that offshore RMB deposits stood at about 1.8 trillion yuan at end-March 2026, a historical high, and offshore RMB bond issuance surged 94.4% in the first half of 2026. The PBOC stated it will continue to improve cross-border RMB usage systems, deepen financial market opening, support Shanghai's international financial center development, and promote the offshore RMB market.
Read sourceChina's Yuan Cross-Border Payments Hit 42.4 Trillion Yuan in First Half, Up 21.4%
The People's Bank of China (PBOC) released its 2026 Renminbi Internationalization Report on September 24, revealing that bank-agency renminbi cross-border receipts and payments totaled 42.4 trillion yuan in the first half of 2026, a year-on-year increase of 21.4%. According to the report, the renminbi has become the largest settlement currency for China's cross-border receipts and payments, the second-largest trade finance currency globally, the third-largest payment currency (on a full-caliber basis), and the fifth-largest foreign exchange trading currency. Additionally, the renminbi's weight in the International Monetary Fund's Special Drawing Rights (SDR) basket ranks third globally. The data underscores the continued internationalization and growing global usage of China's currency.
China Central Bank: Foreign Holdings of Yuan Assets Reach 11.3 Trillion Yuan by June 2026
The People's Bank of China (PBOC) released its 2026 Renminbi Internationalization Report on September 24, stating that as of the end of June 2026, foreign entities held a total of 11.3 trillion yuan in onshore renminbi financial assets, including stocks, bonds, loans, and deposits. This represents a year-on-year increase of 9.2%. Additionally, as of the end of the first quarter of 2026, the IMF's Currency Composition of Official Foreign Exchange Reserves (COFER) survey reported that reporting economies held 260.1 billion U.S. dollars in renminbi reserves. The data indicates continued growth in international use and holdings of the Chinese currency.
Read sourcePBOC Report: Foreign Holdings of Onshore Stocks Reach 4.7 Trillion Yuan as of June 2026
On September 24, the People's Bank of China (PBOC) released its 2026 Renminbi Internationalization Report. The report reveals that as of the end of June 2026, foreign entities held a total of 11.3 trillion yuan in onshore renminbi financial assets, including stocks, bonds, loans, and deposits, up 9.2% year-on-year. Specifically, foreign holdings of onshore stocks stood at 4.7 trillion yuan. In the first half of 2026, offshore renminbi bond issuance surged 94.4% year-on-year to 896.1 billion yuan. Panda bond issuance by overseas issuers reached 160.03 billion yuan in H1 2026, up about 70% year-on-year. As of Q1 2026, IMF COFER data showed renminbi reserves of 260.1 billion USD among reporting economies, and major offshore renminbi deposits hit a record high of approximately 1.8 trillion yuan. The PBOC stated it will further improve the basic institutional arrangements for cross-border renminbi use, deepen financial market opening, support the development of the Shanghai international financial center, and consolidate Hong Kong's status as an international financial center.
Read sourceChina's central bank says foreign holdings of yuan assets hit 11.3 trillion yuan by June 2026
According to a report from People's Financial News on September 24, the People's Bank of China (PBOC) released its 2026 Renminbi Internationalization Report. The report states that as of the end of June 2026, the total balance of domestic renminbi financial assets held by overseas entities, including stocks, bonds, loans, and deposits, reached 11.3 trillion yuan. This represents a year-on-year increase of 9.2%. Additionally, as of the end of the first quarter of 2026, the International Monetary Fund's (IMF) Currency Composition of Official Foreign Exchange Reserves (COFER) survey indicated that reporting countries held 260.1 billion U.S. dollars in renminbi reserves. The data highlights the continued growth in international use and holding of the Chinese currency.
Read sourceChina's Central Bank: Foreign Holdings of Domestic Stocks Reach 4.7 Trillion Yuan by End of June
The People's Bank of China (PBOC) released its 2026 Renminbi Internationalization Report, revealing that as of the end of June 2026, foreign entities held a total of 4.7 trillion yuan in domestic (A-share) stocks. This amount represents approximately 3.9% of the total market capitalization of the A-share market. The data, sourced from Yicai, provides a snapshot of foreign investment in China's equity market amid ongoing efforts to internationalize the renminbi.
Read sourcePBOC Report: QDII/RQDII Cross-Border Yuan Payments Total 80.13 Billion in H1 2026
The People's Bank of China (PBOC) released its 2026 Renminbi Internationalization Report, which disclosed that the total cross-border renminbi receipts and payments for Qualified Domestic Institutional Investor (QDII) and Renminbi Qualified Domestic Institutional Investor (RQDII) businesses amounted to 801.3 billion yuan (approximately 80.13 billion yuan) in the first half of 2026. This data point, sourced from the official PBOC report and reported by Cailianshe, provides a snapshot of the scale of outbound investment flows denominated in renminbi through these regulated channels during the period. The figure reflects ongoing activity in China's capital account liberalization and the international use of the renminbi for investment purposes.
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