By the end of June, Xiamen cross-border settlement of renminbi had reached 201 billion yuan ($33 billion) since four years ago when the pilot project was started, said the city's commerce bureau on its website on July 18.

Statistics show that the settlement exceeded 10 billion yuan for four consecutive months. In June, the figure reached 15.3 billion yuan, a year-on-year increase of 2.4 times. In the first half of this year, the figure grew by 1.7 times year-on-year to 72.6 billion yuan, which exceeded the total amount last year (65 billion yuan).

Cross-border renminbi settlement under capital accounts is the main driving force of growth as the figure reached 37.4 billion yuan in the first half, increasing by 11.3 times.

The accrued amount of renminbi settlement under capital accounts exceeded that of renminbi settlement of cargo exports for the first time to become the largest settlement business. The volume has added up to 61.3 billion yuan, accounting for 29.2 percent of the total settlement.