China's central bank announced that the renminbi has been the fourth largest currency for international trade payments in the global financial market for four consecutive months. RMB payments increased by 25.44% last month. The overall amount of world financial payments increased by only 6.91%.
The top three market shares in the world financial market in March were the US dollar, the euro and the British pound. And now, the yuan is close to the market share of the pound. In the first quarter of this year, nearly 30% of China's cross-border settlements of trade in goods were settled by import and export enterprises in RMB.
In addition, according to the data released by the International Association for Worldwide Interbank Financial Telecommunication, that is, Swift, the share of the RMB has increased again. It has already reached 4.7%. The renminbi has been soaring. It is already second only to the dollar and the euro. In the first quarter of this year, the import and export volume exceeded expectations and hit a new high, and the use of RMB has a solid trade foundation, and RMB settlement will become more and more frequent. The free convertibility of the renminbi will not be talked about in the near future, but it is certain that the proportion of its use will be expanded.