Cross-border yuan deals surge for BOC

Cross-border yuan settlements by the Bank of China Ltd increased more than 50 percent year-on-year during the first nine months of 2013, faster than the nation's 7.7 percent trade growth, according to the bank's Cross-border RMB Index released on Thursday.

The bank developed the CRI to reflect the use of the currency in cross-border and overseas transactions. The index has three inputs: yuan outflows, transactions overseas and yuan inflows.

The bank's cross-border yuan settlements reached 2.67 trillion yuan ($438 billion) from January to September, up 56 percent year-on-year and more than the full-year value for 2012.