China has recorded a sharp increase in cross-border renminbi (RMB) transactions with Malaysia and Cambodia in the first quarter of 2025, reflecting deeper financial integration and growing confidence in the use of its local currency for international trade.
According to data released by the People’s Bank of China, cross-border RMB transactions between China and Malaysia reached 102 billion yuan (approximately RM61.8 billion) in 1Q2025, marking a 27% increase compared to the same period last year.
Meanwhile, transactions between China and Cambodia totalled five billion yuan (RM3.02 billion), representing a significant 45% year-on-year growth. Within this, RMB transactions for goods trade alone accounted for 1.3 billion yuan—up 23% from a year earlier.
The central bank stated that it would continue enhancing policies to create a more business-friendly environment for enterprises in China, Malaysia, and Cambodia to settle cross-border trade and investment in RMB.
The surge underscores China’s ongoing efforts to internationalise the renminbi and strengthen its financial ties with Southeast Asian economies.
