PBOC: Bank Client RMB Cross-Border Receipts and Payments Hit 42.4 Trillion Yuan in H1, Up 21.4% YoY
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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.
Source report
September 24 – The People's Bank of China (PBOC) released the 2026 RMB Internationalization Report, stating that during the first half of 2026, the total amount of RMB cross-border receipts and payments handled by banks on behalf of clients reached 42.4 trillion yuan, representing a 21.4% increase compared to the same period last year.
Key highlights from the report include:
- The RMB has become the largest settlement currency for China's cross-border receipts and payments.
- It is now the second-largest trade financing currency globally.
- It ranks as the third-largest payment currency (on a full-measure basis).
- It is the fifth-largest foreign exchange trading currency worldwide.
- Within the International Monetary Fund (IMF) Special Drawing Rights (SDR) basket, the RMB's weight ranks third globally.
Source
财联社Eastern
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PBOC report: RMB becomes China’s top settlement currency, second-largest trade finance currency globally