The business volume and transaction value of cross-border payments made in renminbi (RMB) maintained strong expansion levels in the second quarter of the year, a central bank report shows.

 

During the period, over 1.01 million transactions were handled through China's RMB cross-border payment system, surging 25.34 percent year on year, according to the People's Bank of China.

 

The total value of these transactions was 22.85 trillion yuan (about 3.29 trillion U.S. dollars), up 19.39 percent from the same period last year, the report said.