China reports Q1 surge in cross-border RMB transactions with Cambodia, Malaysia

BEIJING -- China saw surging cross-border renminbi (RMB) transactions with Cambodia and Malaysia in the first quarter of 2025, according to the People's Bank of China on Wednesday.

During the period, the cross-border RMB transactions between China and Cambodia amounted to 5 billion yuan ($693 million), up 45 percent year-on-year.

Of that total, cross-border RMB transactions for trade in goods totaled 1.3 billion yuan, an increase of 23 percent.

In the first quarter of this year, cross-border RMB transactions between China and Malaysia amounted to 102 billion yuan, growing 27 percent from a year earlier.

China will continue improving its policies to provide a more convenient and friendly environment for business entities in China, Cambodia and Malaysia to use RMB for cross-border trade and investment settlement, according to the central bank.