Zhu Hexin, the head of the State Administration of Foreign Exchange: The percentage of the renminbi used in cross-border trade has risen to nearly 30%.

On September 22, when introducing the achievements of the development of the financial industry during the "14th Five-Year Plan" period, Zhu Hexin, Vice Governor of the People's Bank of China and Director of the State Administration of Foreign Exchange, stated at a press conference of the State Council Information Office that since the beginning of the "14th Five-Year Plan", the foreign exchange market has been rational and orderly, with enhanced stability, increased flexibility in the fluctuation of the RMB exchange rate, and played a stabilizing role in macroeconomic and international balance of payments. The proportion of corporate foreign exchange hedging has increased from 17% in 2020 to around 30%, the use of the RMB in cross-border trade has increased from 16% to nearly 30%, and the resilience of the foreign exchange market has been further enhanced.