China's cross-border renminbi payments have climbed sharply this year，aided by the Belt and Road Initiative，a key infrastructure and trade development program. More than 200 countries and regions have taken part in these transactions and in the first quarter，the cross-border renminbi receipts and payments reached 3.15 trillion yuan，an increase of 87.1% over the same period last year. Actual receipts were 1.65 trillion yuan，up 113%，while payments were 1.5 trillion yuan，for a gain of 65.4%.

Cross-border renminbi receipts and payments under the current account amounted to 1.06 trillion yuan in the first quarter，up 6.5% over a year ago. Receipts and payments related to merchandise trade reached 797.05 billion yuan while those in the services trade and other items reached 261.93 billion yuan. Cross-border renminbi receipts and payments under the investment account were 2.09 trillion yuan，more than double the year ago. The scale of renminbi under direct investment and securities investments continues to grow，and the cross-border direct investment in renminbi accounting for more than half of the total of cross-border settlements for direct investments.

Statistics from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) show that there were more than 349,000 companies and 386 banks around the world that had launched cross-border renminbi business as of the end of March 2018. Foreign banks in 137 countries and regions had opened 5,028 interbank accounts in China.

At the same time，the panda bond market has expanded，gaining the attention of the international market and giving a boost to the internationalization of the renminbi. More companies are making renminbi bond offerings. These entities include overseas non-financial enterprises，financial institutions，international development agencies and foreign governments，with cumulative issuances of 245.7 billion yuan as of the end of the first quarter.