The data shows that since mid-2020, cross-border RMB settlement of Chinese goods** has more than doubled on a monthly basis, and is now equivalent to about 1 4 of China's major commodities**, compared with about 13% in 2019.
According to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), there were 36% of international payments are made in RMB. That's up from less than 2% in January and just down from 37% – the latter hit an all-time high, and the Chinese currency's status as an international payment option is rising.
Pingpong Fumao (is a comprehensive foreign trade service provider specializing in serving small and medium-sized foreign trade enterprises, providing a variety of services for enterprise users, breaking the restrictions that enterprises have been limited by the traditional foreign trade service industry, and solving a series of problems such as difficulty in opening an account, slow collection, high cost, and high security risks.
Relying on digital technology, Pingpong Fumao has moved the whole process of foreign trade services offline and online. It provides a free account with 0 fee for the majority of foreign trade enterprises, and enterprises can enjoy a variety of payment methods, second-level arrival and rich products and services after completing real-name authentication.
Through cooperation with major well-known banks, Pingpong Fumao continues to expand its global payment and collection solutions, launching 20 global accounts, 11 local collection accounts and more than 20 payment currencies. The most important thing is that the "RMB Account" function launched by Pingpong Fumao supports users to transfer money between accounts without charging intermediary bank fees, and withdrawals are based on the real-time exchange rate of Bank of China to ensure that the account is received on the same dayIn addition, Pingpong also provides an "Expedited Withdrawal" service, which allows you to experience the efficiency of same-day arrival even when you are not on a working day.