RMB cross-border trade settlement hits 577.9 billion yuan in April

Renminbi-denominated cross-border trade settlement hit 577.9 billion yuan (about 89.6 billion U.S. dollars) in April, central bank data showed.

Of the total, 434.5 billion yuan came from cross-border trade in goods, and 143.4 billion yuan came from cross-border trade in services and other current account items, said the People's Bank of China.

In April, RMB settlement of direct investment stood at 422.5 billion yuan with 115.9 billion yuan from outbound direct investment and 306.6 billion yuan from inbound foreign direct investment.

In 2020, RMB settlement for cross-border trade reached 6.77 trillion yuan, up from 6.04 trillion yuan in 2019, and RMB settlement for direct investment reached 3.81 trillion yuan, up from 2.78 trillion yuan in 2019.