Shiliuyun-Xinjiang Daily (Reporter Wang Yongfei) news: According to the People's Bank of China Xinjiang Branch, since the Xinjiang Uygur Autonomous Region was established, Xinjiang has consistently worked to facilitate cross-border trade and investment financing, especially continuously optimizing the environment for the cross-border use of RMB. By the end of June 2025, Xinjiang had conducted cross-border RMB payments totaling 505.62 billion yuan (about 70.58 billion U.S. dollars) with 132 countries and regions, serving more than 4,000 enterprises.

Cross-border RMB receipts and payments refer to Chinese enterprises directly using RMB for financial transactions with foreign partners in their trade and investment activities. For both importers and exporters, pricing and settlement in RMB helps avoid risks from exchange rate fluctuations and increases settlement efficiency.

To further facilitate cross-border RMB payments, two sets of guidelines were formulated and revised in June and July last year. One is specifically for high-quality enterprises within the China (Xinjiang) Pilot Free Trade Zone, and the other is applicable to such enterprises across the whole of Xinjiang.

Following this, in May of this year, the list of high-quality enterprises eligible for simplified cross-border RMB settlement was adjusted and expanded. For 2025, the number of qualifying enterprises reached 577, covering the entire region and setting a new record.

In addition to facilitating cross-border RMB transactions, the People's Bank of China Xinjiang Branch has also implemented a series of policies concerning cross-border fund management and services to improve the business environment for foreign-related economic activities. A foreign exchange service system has been gradually established, primarily consisting of banks licensed for foreign exchange settlement and sale, supplemented by specially licensed institutions and foreign currency exchange outlets. Currently, 27 banks in Xinjiang hold the necessary license, offering transactions in 20 currencies.

To actively support businesses in accessing both domestic and international markets and resources, Xinjiang's financial sector has facilitated full-caliber cross-border financing worth 64.1 billion yuan (about 9 billion U.S. dollars) since relevant policies were introduced in 2017.

Furthermore, since the China (Xinjiang) Pilot Free Trade Zone was established, the local financial industry has continuously enhanced supporting financial policies and introduced innovative services and products. By the end of June this year, the total loan balance held by banks in the Xinjiang Pilot Free Trade Zone reached 133.49 billion yuan (about 18.65 billion U.S. dollars), a seven percent increase compared to the previous year.

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