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Yuan settlement takes up 1/4 of cross-border deals

CCTV.com

01-21-2015 17:20 BJT

Will the Chinese yuan become one of the most important international currencies in 2015? We don't know yet, but its growth rate has certainly caught peoples' attention.

Last year saw cross border transaction volume worth nearly 10 trillion yuan, and a quarter of that was settled in the RMB. That's according to China's central bank. Offshore trading centres saw international settlements in the yuan more than triple in 2014. 

The rapid growth of yuan transactions came from the world's eagerness to profit from investing in China's capital market. This kind of investment is currently being done in the yuan through a plan called RQFII that saw its size triple to 870 billion yuan by the end of 2014. 

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