The People’s Bank of China announced on August 14 the July financial statistics: in July, the amount of cross-border RMB settlement under the current account was 1.75 trillion yuan, including 1.32 trillion yuan for goods trade and 0.43 trillion yuan for services trade and other current-account items; the cross-border RMB settlement amount for direct investment was 0.63 trillion yuan, of which China’s direct investment abroad and foreign direct investment by foreign investors were 0.22 trillion yuan and 0.41 trillion yuan, respectively. The scale of RMB use in cross-border trade and investment remains relatively high, indicating that settlement demand continues. In the medium to long term, it will also help reduce enterprises’ costs of exchanging foreign currency and their exchange-rate exposure, and is an important indicator to observe the internationalization of the RMB. $USDCNY is for informational purposes only and does not constitute investment advice