In 2025, the total amount of cross-border RMB receipts and payments in Shanghai reached 32.4 trillion yuan, a year-on-year increase of 9%.

The headquarters of the People's Bank of China in Shanghai held a meeting on February 6 to discuss the work of cross-border RMB business in Shanghai in 2026. The meeting pointed out that in 2025, with the concerted efforts of all parties, the cross-border RMB business in Shanghai achieved both in quantity and quality, with a total cross-border RMB payment and receipt amounting to 32.4 trillion yuan for the whole year, a year-on-year increase of 9%, maintaining its leading position in the country. Progress has been made in the use of RMB in key enterprises, key sectors, and key regions. Reform measures such as the comprehensive reform pilot of offshore trade finance services in the Lingang New Area and the upgrade pilot of free trade account functions have been effectively implemented.