Shandong's cross-border RMB business exceeded 200b yuan Q1, 2

In the first half of this year, the cross-border RMB settlement amount of Shandong Province reached 202.54 billion yuan (US$33.07 billion) up 25.8 percent over the same period of last year, according to the Jinan branch of the People's Bank of China.

68 branch institutions of banks and 925 corporations have been newly added to deal with the cross-border RMB settlement this year in the province.

In the first six month of this year, the foreign-related revenue of Shandong totaled US$182.909 billion, up 14.11 percent over the same period of last year.

The provincial cross-border RMB receipts and payments made up 18.68 percent of the foreign-related revenue, up 1.75 percent.

The cross-border RMB revenue reached 90.53 billion yuan and payments 112.01 billion yuan, up 39 and 16.9 percent.

The current account transaction amounts to 165.18 billion yuan, making up 81.55 percent of cross-border RMB settlement.