Guangxi cross-border RMB settlements reach 1.5t yuan

As of June this year, the total amount of cross-border RMB settlements in Guangxi was 1.5 trillion yuan ($222 billion), ranking first among nine border provincial-level regions and 12 western provincial-level regions.

In this period, the balance of loans in local and foreign currencies in Guangxi was 4.3 trillion yuan, a year-on-year increase of 11.8 percent and 1.03 percentage points higher than the national growth rate. In the first half of 2022, Guangxi's original insurance premium income was 51.4 billion yuan, a year-on-year increase of 4.76 percent, while its cross-border RMB settlement volume was 118.74 billion yuan, a year-on-year increase of 35 percent.

Guangxi's financial reform has formed 180 case results, 35 of which are the first in the country. Guangxi also issued 438.3 billion yuan in preferential interest rate loans, benefiting 156,000 entities and directly reducing financing costs by 8.6 billion yuan.

Guangxi cross-border RMB settlements reach 1.5 trillion yuan as of June 2022. [Photo/WeChat account: gh_df8bc987e060]