BOC releases CRI in Yunnan for the First Time

Recently, Bank of China (BOC) released its Cross-Border RMB Index (CRI) in August 2015 in Yunnan. It was the first time the Index was released in Yunnan.

The results showed that the CRI in August was 321 points, an increase of 42 points over the previous month and the highest since 2013. This indicates growth in the use of the ratio of RMB in cross-border or oversea payments, representing good momentum in the development and progress of RMB internalization.

The Bank of China’s Cross-Border RMB Index (CRI) was independently developed by itself to reflect the usage of RMB in cross-border and oversea transactions, and to indirectly reflect the indicative index for the development of RMB internationalization. By tracking the usage of RMB in cross-border and overseas transactions, the index reflects the complete scale, structure and level of cross-border circulation of RMB. With this index, clients can be better guided to choose and use cross-border RMB products and services. Meanwhile, it can be used by government departments and research institutions as references in making decisions.

 

Since the pilot project of cross-border RMB settlement in Yunnan Province was launched in July 2010, RMB has become a new choice for global trade and investment. In the past 5 years, the Yunnan Branch of the Bank of China has improved RMB internalization. By the end of September, the amount of cross-border RMB payments made through the Yunnan Branch totaled more than RMB 90 billion, maintaining the largest market share in Yunnan Province for 5 years in a row.

BOC releases CRI in Yunnan for the First Time

Recently, Bank of China (BOC) released its Cross-Border RMB Index (CRI) in August 2015 in Yunnan. It was the first time the Index was released in Yunnan. The results showed that the CRI in August was 321 points, an increase of 42 points over the previous month and the highest since 2013. This indicates growth in the use of the ratio of RMB in cross-border or oversea payments, representing good momentum in the development and progress of RMB internalization. The Bank of Chinas Cross-Border RMB Index (CRI) was independently developed by itself to reflect the usage of RMB in cross-border and oversea transactions, and to indirectly reflect the indicative index for the development of RMB internationalization. By tracking the usage of RMB in cross-border and overseas transactions, the index reflects the complete scale, structure and level of cross-border circulation of RMB. With this index, clients can be better guided to choose and use cross-border RMB products and services. Meanwhile, it can be used by government departments and research institutions as references in making decisions. Since the pilot project of cross-border RMB settlement in Yunnan Province was launched in July 2010, RMB has become a new choice for global trade and investment. In the past 5 years, the Yunnan Branch of the Bank of China has improved RMB internalization. By the end of September, the amount of cross-border RMB payments made through the Yunnan Branch totaled more than RMB 90 billion, maintaining the largest market share in Yunnan Province for 5 years in a row.