The euro and U.S. dollar made up more than seven of 10 SWIFT payments worldwide in 2024, outperforming many other currencies. This is according to a monthly report meant to track the market share of China's yuan renminbi within the international bank transfer system SWIFT. Although China holds the largest forex reserves in the world, the yuan ranked as the eighth-used currency in international payments. The figures concern customer-initiated and institutional payments and exclude trade. Discussions on the potential weakening role of the U.S. dollar especially touch world trade and forex. For example, the share of the USD in forex reserves declined visibly against the euro and Japanese yen in 2023. What sparked this de-dollarization trend, and will it continue? Trade sanctions and de-dollarization De-dollarization in 2023 is mentioned mostly alongside trade and the BRICS countries - an informal name given to Brazil, Russia, India, China, and South Africa. The combined GDP of BRICS is about 25 percent of the world's economy. After the start of the Ukraine war and Russia received economic sanctions, the BRICS slowly evolved into a trading bloc. The group increasingly wanted its own currency to settle payments within the trade bloc, to avoid using the U.S. dollar. In August 2023, BRICS will gather in South Africa to discuss the creation of such a new joint currency. Additionally, 19 countries - including Argentina, Algeria, Egypt, Saudi Arabia, Turkey, and Yemen - expressed interest in joining the BRICS group. CBDC, or projects into a digital payment settlement A factor of future uncertainty for the U.S. dollar is how central bank digital currencies (CBDC) develop in emerging countries. Several projects exist between individual countries that specifically target cross-border interbank payments. A cooperation between Thailand and Hong Kong, Inthanon-Lionrock, ranks as the most advanced of these projects. CBDC does not require the U.S. dollar to function. Tangible such as commodities or gold can back them. The value of transactions processed with CBDC is to grow by 260,000 percent between 2023 and 2030.

China Trade Balance: RMB: Year to Date data was reported at 1,226,063.794 RMB mn in Feb 2025. This records an increase from the previous number of 997,868.953 RMB mn for Jan 2025. China Trade Balance: RMB: Year to Date data is updated monthly, averaging 1,259,903.853 RMB mn from Jan 2012 (Median) to Feb 2025, with 158 observations. The data reached an all-time high of 7,059,841.204 RMB mn in Dec 2024 and a record low of -44,085.666 RMB mn in Feb 2020. China Trade Balance: RMB: Year to Date data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JA: RMB: Trade: Value.

5408 Global import shipment records of Yuan with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

In November 2023, 80 percent of global yuan transactions had been cleared in Hong Kong. The proximity of the city to mainland China made it predestined to be the largest market for yuan in the world. Since many Chinese and international investors funneled their investors through Hong Kong, the demand for yuan was very high.

International transactions

The most common international transactions is the transfer of money. In total, the value of global payment revenues reached almost two trillion U.S. dollars. To complete a transaction, both parties have to agree on a currency, which is in most cases the U.S. dollar, making the U.S. currency somewhat of a global currency. This position as a global currency has many political and strategic advantages.

Internationalization of the yuan

The Chinese government strives to challenge the U.S. dollar’s role in global trade. Since all countries who want to trade internationally need to buy U.S. dollars, nations are very dependent on the United States to maintain a steady reserve of U.S. dollars. China’s foreign currency reserves amounted to over three trillion U.S. dollars. To enhance its independence and ability to project its financial assets, China wants to increase the role of the yuan in global trade. One way to achieve this goal is to establish clearinghouses abroad. For instance, London has became the largest market for yuan outside the Greater China region.

The USDCNY increased 0.0137 or 0.19% to 7.2796 on Wednesday March 26 from 7.2658 in the previous trading session. Chinese Yuan - values, historical data, forecasts and news - updated on March of 2025.

Global trade data of Yuan under 200233, 200233 global trade data, trade data of Yuan from 80+ Countries.

Global trade data of Yuan under 58071000, 58071000 global trade data, trade data of Yuan from 80+ Countries.

In 2024, the total value of Chinese merchandise imports and exports amounted to about 43.8 trillion yuan. This indicated approximately five percent growth compared to the previous year. China’s international trade relations In 2012, China surpassed the United States to become to the world’s largest trading country in terms of exports and imports of goods. While the United States remained the largest import nation with an import value of around 3.17 trillion U.S. dollars in 2023, China ranked first in global exports with an export value of some 3.38 trillion U.S. dollars in 2023.According to the National Bureau of Statistics of China, in 2023, the United States was the second most significant export partner of China with a share in total exports of about 14.7 percent. China is also one of the United States’ most potential markets for exports. As of 2024, exports from the United States to China had expanded more than seven-fold since China joined the World Trade Organization in 2001. The European Union was the third most important export partner of China as of 2024, after ASEAN and the United States. Exports to the EU are dominated by industrial and consumer goods such as machinery and equipment, as well as footwear and clothing. Chinese imports from the EU are mainly machinery and transport equipment, chemical products and miscellaneous manufactured articles. Hong Kong plays a unique role in intermediating and facilitating trade between China and the rest of the world. Mainland Chinese companies sell goods to Hong Kong which re-exports them at marked up prices. Majority of exports from Hong Kong are re-exports.

632 Global export shipment records of Yuan with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

China Import: RMB: CIF data was reported at 1,657,024.467 RMB mn in Dec 2024. This records an increase from the previous number of 1,527,899.243 RMB mn for Nov 2024. China Import: RMB: CIF data is updated monthly, averaging 1,132,271.341 RMB mn from Jan 2012 (Median) to Dec 2024, with 156 observations. The data reached an all-time high of 1,657,024.467 RMB mn in Dec 2024 and a record low of 612,438.072 RMB mn in Feb 2016. China Import: RMB: CIF data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JA: RMB: Trade: Value.

Shaanxi: Export: Latin America: Brazil data was reported at 133,851.405 RMB th in Nov 2024. This records a decrease from the previous number of 211,843.526 RMB th for Oct 2024. Shaanxi: Export: Latin America: Brazil data is updated monthly, averaging 143,726.151 RMB th from Jan 2015 (Median) to Nov 2024, with 119 observations. The data reached an all-time high of 1,881,797.849 RMB th in Apr 2024 and a record low of 8,078.297 RMB th in Feb 2016. Shaanxi: Export: Latin America: Brazil data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JBA: RMB: Foreign Trade: Shaanxi.

Taiwan RMB Business: Cross-border Trade Settlement: OBU data was reported at 8,575.000 RMB mn in Mar 2013. This records an increase from the previous number of 7,131.000 RMB mn for Feb 2013. Taiwan RMB Business: Cross-border Trade Settlement: OBU data is updated monthly, averaging 7,106.500 RMB mn from Aug 2012 (Median) to Mar 2013, with 8 observations. The data reached an all-time high of 8,575.000 RMB mn in Mar 2013 and a record low of 3,828.000 RMB mn in Aug 2012. Taiwan RMB Business: Cross-border Trade Settlement: OBU data remains active status in CEIC and is reported by Central Bank of the Republic of China. The data is categorized under Global Database’s Taiwan – Table TW.KB035: Renminbi (Chinese Yuan) Business.

In 2024, the European Union countries imported approximately 14.4 percent of the Chinese export volume. In that year, ASEAN was the largest Chinese merchandise importer. Distribution of Chinese exports In 2024, China exported goods with a total value of around 25.5 trillion yuan and imported goods with a value of 18.4 trillion yuan. That year, China ranked second among the countries with the largest gross domestic product, following the United States.China’s economic prosperity has been closely related to its status as the world’s factory. For about a decade between 2005 and 2015, exports contributed more than 20 percent to China’s gross domestic product. However, the share of exports to GDP contribution is currently on the decline. Nonetheless, China maintains a trade surplus of about 992 billion U.S. dollars and remains first among countries with the highest trade surplus worldwide as of 2023. While China displays high growth potential for service exports such as tourism, transportation, banking and financial services, as well as insurance and education services, the main focus of China’s export industry remains merchandise. In 2022, Chinese merchandise exports made up 14.4 percent of all global exports, whereas service based exports contributed only six percent.In terms of most exported merchandise categories, food and live animals used for food were the main primary goods. Among the manufactured goods, automatic data processing machines, integrated circuits, clothing, textiles, and smartphones were the categories with the highest export value in China in 2024.

China Commodity Trading Market over 100 M Yuan: Turnover: Meat, Poultry and Eggs Market data was reported at 192.226 RMB bn in 2023. This records a decrease from the previous number of 193.293 RMB bn for 2022. China Commodity Trading Market over 100 M Yuan: Turnover: Meat, Poultry and Eggs Market data is updated yearly, averaging 143.724 RMB bn from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 210.424 RMB bn in 2019 and a record low of 62.127 RMB bn in 2008. China Commodity Trading Market over 100 M Yuan: Turnover: Meat, Poultry and Eggs Market data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Wholesale, Retail and Catering Sector – Table CN.RJA: Commodity Trading Market over 100 Million Yuan: Turnover.

In 2024, goods imports to China increased by about 2.3 percent compared to the previous year (based on yuan value). Resulting from a difficult global economic environment and the high base of total imports during the pandemic, China's international trade saw only slow growth that year. Goods import to China In 2024 China’s total international trade value reached 43.8 trillion yuan, comprised of 25.5 trillion yuan merchandise export value and 18.4 trillion yuan import value. Imports accounted for nearly 13.6 percent of the gross domestic product (GDP) that year.China is the world’s second largest merchandise importer after the United States. Among the country’s major import goods are integrated circuits, crude oil, and iron ore. The ASEAN was the major region exporting to China in 2024, accounting for over 15 percent of China’s total imports. The European Union was China's second largest import origin that year. In addition, China's closest neighbors – South Korea, Taiwan, and Japan – each covered six to eight percent of the total import value. Import growth China's merchandise imports were stalled as a result of the difficult global economic environment in 2024. Guangdong province was China's largest import destination, followed by Shanghai municipality and Jiangsu province. As for trade partners, China has increased its imports of merchandise from Russia significantly since 2022. In 2023, China imported nearly 920 billion yuan of products from Russia.

China RMB: Import and Export: Service: YoY: Other Commercial Service data was reported at 5.700 % in Nov 2024. This records a decrease from the previous number of 7.300 % for Oct 2024. China RMB: Import and Export: Service: YoY: Other Commercial Service data is updated monthly, averaging 8.700 % from Dec 2017 (Median) to Nov 2024, with 74 observations. The data reached an all-time high of 28.500 % in Apr 2023 and a record low of -5.500 % in Oct 2020. China RMB: Import and Export: Service: YoY: Other Commercial Service data remains active status in CEIC and is reported by Ministry of Commerce. The data is categorized under China Premium Database’s International Trade – Table CN.JS: Trade in Services: RMB.

China Commodity Trading Market over 100 M Yuan: Turnover: Gold, Jeweller, Jade Market data was reported at 85.570 RMB bn in 2023. This records a decrease from the previous number of 95.067 RMB bn for 2022. China Commodity Trading Market over 100 M Yuan: Turnover: Gold, Jeweller, Jade Market data is updated yearly, averaging 51.688 RMB bn from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 95.067 RMB bn in 2022 and a record low of 22.026 RMB bn in 2008. China Commodity Trading Market over 100 M Yuan: Turnover: Gold, Jeweller, Jade Market data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Wholesale, Retail and Catering Sector – Table CN.RJA: Commodity Trading Market over 100 Million Yuan: Turnover.

CN: Hebei: Export: Latin America: Cuba data was reported at 2,312.173 RMB th in Dec 2024. This records a decrease from the previous number of 6,110.687 RMB th for Nov 2024. CN: Hebei: Export: Latin America: Cuba data is updated monthly, averaging 2,708.877 RMB th from Jan 2015 (Median) to Dec 2024, with 119 observations. The data reached an all-time high of 43,704.983 RMB th in Nov 2015 and a record low of 0.548 RMB th in Jan 2020. CN: Hebei: Export: Latin America: Cuba data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JBA: RMB: Foreign Trade: Hebei.

CN: Jiangxi: Export: Latin America: El Salvador data was reported at 34,347.864 RMB th in Dec 2024. This records an increase from the previous number of 3,740.999 RMB th for Nov 2024. CN: Jiangxi: Export: Latin America: El Salvador data is updated monthly, averaging 6,263.118 RMB th from Jan 2015 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 120,111.488 RMB th in Jun 2019 and a record low of 704.779 RMB th in Mar 2016. CN: Jiangxi: Export: Latin America: El Salvador data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JBA: RMB: Foreign Trade: Jiangxi.

China Export: RMB: YoY: SA data was reported at 21.300 % in Oct 2021. This records a decrease from the previous number of 21.600 % for Sep 2021. China Export: RMB: YoY: SA data is updated monthly, averaging 6.050 % from Jan 2014 (Median) to Oct 2021, with 90 observations. The data reached an all-time high of 24.200 % in Mar 2019 and a record low of -9.100 % in Feb 2014. China Export: RMB: YoY: SA data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JA: RMB: Trade: Value.