Shenzhen’s Cross-border Renminbi Settlement Breached 3 Trillion Yuan in 2021

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The southern Chinese city of Shenzhen saw cross-border renminbi settlement rise to a record high of over 3 trillion yuan in 2021, according to the latest data from China’s central bank.

In 2021 Shenzhen saw cross-border renminbi settlement rise 25.6% compared to 2020 to hit 3.1 trillion yuan, putting it third in China in terms of processing amounts.

Renminbi cross-border settlement accounted for a 47.8% share of the total domestic and foreign currency cross-border settlement amount in 2021.