RMB’s share of global payments hits new high

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced that the RMB’s share of international payment value in July rose from 4.61% in June to 4.74%, which has been above 4% for 9 consecutive months and set a new record since data was recorded; the international payment ranking has remained fourth in the world for 9 consecutive months.

According to the report, SWIFT pointed out that compared with June, the value of RMB payments in July increased by 13.37%, while the value of payments in all currencies increased by 10.29%.

The report also said that in addition, the share of RMB as a global currency in the trade financing market reached 6% in July, surpassing the euro’s 5.83%.