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Under the continuous advancement of the "Belt and Road" initiative, China's economic and trade cooperation with co-construction countries has continuously reached new heights. Recently, it was learned from the People's Bank of China that in the first quarter of this year, the amount of RMB payments between China and Malaysia amounted to 102 billion yuan, an increase of 27% year-on-year; the amount of RMB payments between China and Cambodia amounted to 5 billion yuan, an increase of 45% year-on-year, with cross-border RMB payments for goods trade amounting to 1.3 billion yuan, an increase of 23% year-on-year. "Since the pilot program began in 2009, China's cross-border RMB settlement business has developed rapidly." Wen Bin, chief economist of China Minsheng Bank, said that Chinese enterprises using RMB pricing settlement in foreign economic and trade transactions can not only avoid exchange rate risks but also reduce the cost of converting third-party currencies, reducing the financial costs of enterprises. (Economic Daily)