Cross-border yuan payments in Shenzhen hit a record high of 2.5 trillion yuan (US$386 billion) last year, up 46 per cent from 2019. Photo: Shutterstock
Cross-border yuan payments in Shenzhen hit a record high of 2.5 trillion yuan (US$386 billion) last year, up 46 per cent from 2019. Photo: Shutterstock
China economy
Economy

China’s Shenzhen sees cross-border yuan use jump to record level in 2020

  • Shenzhen’s cross-border yuan payments rose 46 per cent to 2.5 trillion yuan (US$386 billion) last year
  • The rise bodes well for Beijing in its efforts to boost the use of the currency in international transactions

Frank Tang
Frank Tang in Beijing

Updated: 5:30pm, 5 Mar, 2021

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Cross-border yuan payments in Shenzhen hit a record high of 2.5 trillion yuan (US$386 billion) last year, up 46 per cent from 2019. Photo: Shutterstock
Cross-border yuan payments in Shenzhen hit a record high of 2.5 trillion yuan (US$386 billion) last year, up 46 per cent from 2019. Photo: Shutterstock
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