The Zhitong Finance App learned that on November 14, due to news that payments processed by the RMB cross-border payment system exceeded 70 trillion yuan in the first three quarters, A-share cross-border payment concept stocks fluctuated. As of press release, Xinyada (600571.SH) pulled the seal in a straight line, while Sifang Jingchuang (300468.SZ), Hailian Financial (002537.SZ), Xinchen Technology (300542.SZ), Advanced Digital Communications (300541.SZ), Zhongke Financial (002657.SZ) and other stocks continued to rise.

According to information from Cross-border Interbank Payment Clearing Co., Ltd., as China's import and export trade continues to develop rapidly, the volume of RMB cross-border payments has been growing steadily. The amount of RMB payments processed through the RMB Cross-border Payment System (CIPS) in the first three quarters of this year reached 70.63 trillion yuan, an increase of 21% over the previous year. The service of the CIPS system has covered more than 180 countries and regions.

According to institutional analysis, the RMB internationalization process has progressed steadily since this year. In June, the People's Bank of China issued the “Notice on Supporting New Forms of Foreign Trade and Cross-border RMB Settlement” to support banks and payment institutions to better serve the development of new forms of foreign trade. By the end of July, China had established bilateral local currency exchange arrangements with more than 20 “Belt and Road” countries, and established RMB clearing arrangements in more than 10 co-founding countries. The agency pointed out that in the future, as a new pattern of “Belt and Road” regional cooperation gradually takes shape, the RMB cross-border payment system will facilitate trade exchanges between countries along the route.