CCTV news: The State Council Information Office held a series of press conferences on "China's high-quality economic development results" on the 14th. Xuan Changneng, deputy governor of the People's Bank of China, said that the People's Bank of China has continued to Improve the convenience of supporting the cross-border use of RMB. Currently, RMB has become the fourth payment currency in the world.

Data from the People's Bank of China show that various indicators of the international use of RMB have steadily improved, and the ability of cross-border RMB business to serve the real economy has continued to increase. In terms of payment function, RMB has become the fourth payment currency in the world. Last year, the amount of RMB cross-border receipts and payments was approximately 64 trillion yuan, a year-on-year increase of 23%. In terms of reserve functions, more than 80 overseas central banks or monetary authorities have included RMB in foreign exchange reserves. In terms of the offshore RMB market, the balance of RMB deposits in Hong Kong exceeds 1 trillion yuan and the balance of RMB loans is close to 700 billion yuan, both of which have reached historically high levels.

Xuan Changneng, Deputy Governor of the People's Bank of China, said that in the future, the People's Bank of China will continue to make efforts in strengthening the coordination of domestic and foreign currencies and facilitating business entities to carry out cross-border financing activities in RMB, so as to provide services for domestic and foreign entities. Holding and using RMB creates a better environment.

China's RMB loans will increase by 18.09 trillion yuan in 2024

Financial statistics released by the People's Bank of China on the 14th show that China's RMB loans will increase by 180,900 yuan in 2024 billion; of which, loans to enterprises (institutions) increased by 14.33 trillion yuan. At the end of December 2024, China's RMB loan balance was 255.68 trillion yuan, a year-on-year increase of 7.6%.

The consumption assistance e-commerce platform has recently been launched. According to the latest statistics, in the special area for the central enterprises’ consumption assistance to welcome the Spring Festival, the purchase volume has exceeded 500 million yuan. The event will last until January 18th. 17,000 agricultural and specialty products from 298 counties supported by state-owned central enterprises participated in the event, allowing consumers to taste New Year’s delicacies from all over the country without leaving home.

National Medical Insurance Administration: In the first 11 months of last year, individual accounts of employee medical insurance helped 325 million people

China actively promotes the policy of mutual aid for individual medical insurance accounts. According to the latest statistics from the National Medical Insurance Administration, from January to November 2024, there were 325 million individual employee medical insurance accounts, with a mutual aid amount of 44.5 billion, accounting for 10% of last year’s total. 7.4% of annual personal account income. At present, all provinces in the country have achieved intra-provincial and cross-coordinating district coordination. 39 coordinating regions in 11 provinces took the lead in realizing inter-provincial mutual assistance.