CHONGQING (CQNEWS) -- Chongqing’s cross-border CNY settlement hit a record high and ranked first in central and western China in the first quarter of 2024, with the cross-border CNY settlement for trade in goods amounting to 67.54 billion yuan, up 55.4% from last year, said the Chongqing Branch of People’s Bank of China on May 13.

Guided by the vision of serving the real economy and facilitating trade and investment, the financial industry of Chongqing has promoted cross-border CNY settlement facilitation pilot projects this year to continuously facilitate cross-border use of Renminbi and Chongqing’s high-level opening up.

At the same time, the Chongqing Branch of the People’s Bank of China continued to carry out the special program for enterprises that have never made CNY cross-border settlement, so that more and more enterprises can share the benefits brought by the cross-border CNY settlement policy.

Data show that in the first quarter of 2024, the number of enterprises involved in cross-border CNY settlement in Chongqing reached 1,740, 332 more than in the same period in 2023; 213 enterprises handled cross-border CNY settlement for the first time; and the cross-border CNY settlement in Chongqing hit 83.36 billion yuan, a record high during the same period in history, up 44.1% from last year. (Translated by Yuki, Fathom Language Limited)