Hey everyone! Check out this exciting update on the Chinese mainland's cross-border financial activity. The non-banking sectors recorded a staggering $7.6 trillion in revenue and expenditure in the first half of the year – a 10.4% year-on-year increase that marks a new high. 🚀
At a recent press conference, Li Bin, deputy director of the State Administration of Foreign Exchange, noted that the Chinese renminbi (RMB) now constitutes 53% of these transactions, underscoring its rising global influence. 💰
In addition, the net inflow of funds reached $127.3 billion from January to June, with the second quarter showing an impressive 46% growth quarter on quarter. As of the end of June, the Chinese mainland's foreign exchange reserves climbed to $331.74 billion, up by $11.51 billion since the end of 2024. 🔥
This record-breaking performance offers fresh insights for investors, professionals, students, and culture enthusiasts. It highlights dynamic shifts in global finance, serving as a thrilling indicator for anyone keen on economic trends and future opportunities. Stay tuned for more updates as the Chinese mainland continues to shape the future of cross-border finance!
Reference(s):
cgtn.com
