Cross-border yuan settlement growing rapidly

Currency now second most used for China's intlpayments after dollar, central bank official says

The use of the yuan in cross-border trade and investment has grown rapidly in the past five years, according to Hu Xiaolian, deputy governor of the People's Bank of China.

Addressing a recent forum on cross-border yuan business in Beijing, Hu revealed international renminbi settlement had exceeded 4.8 trillion yuan ($784 billion) by the end of September this year, up from 3.58 billion yuan in 2009.