Cross-border RMB settlements on the rise -- September tally
Rising 56.2 percent from last year, cross-border yuan settlements in Xiamen reached 173 billion in the first nine months of 2015.
In commodity trade, cross-border yuan settlements increased 54.5 percent from last year to reach 83.4 billion. This amount accounted for 21.7 percent of the cross-border settlements made in all currencies in commodity trade, a rise of 6 percentage points from last year.
In September alone, cross-border yuan settlement reached 25 billion, increasing 101.4 percent from last year. It was the second consecutive month that Xiamen realized cross-border yuan settlement of over 20 billion.
Why Xiamen
-
Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.