(Sept 18): China-Asean cross-border RMB settlement volume has surged nearly 20-fold in the past decade, according to a report released on Saturday during the ongoing 19th China-Asean Expo, CGTN reported.

RMB settlement volume between China and the Association of Southeast Asian Nations (Asean) reached 4.8 trillion yuan (US$687 billion) in 2021, a year-on-year increase of 16%, data from the People’s Bank of China (PBOC)-backed Financial Society of Guangxi showed.