China will boost the internationalization of the RMB (the country’s currency) while promoting a sound monetary and financial environment, the Central Bank promised. The country will improve infrastructure for cross-border use of RMB and enhance its ability to serve the real economy and promote high-quality development, Li Bin, an official with the People’s Bank of China, said in an interview with Xinhua news agency.

The country aims to promote the comprehensive institutional opening of financial markets in a stable and orderly manner, enrich risk hedging tools and create a more friendly and convenient investment and financing environment, he added.

Official data shows that in the first 11 months of 2023, international transactions in RMB totaled 48 trillion yuan ($6.76 trillion), an increase of 24% year on year.


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