Core Insights - The People's Bank of China (PBOC) Shanghai Headquarters reported that the cross-border RMB payment amount in Shanghai reached 32.4 trillion yuan in 2025, a year-on-year increase of 9%, accounting for 46% of the national total, maintaining its position as the highest in the country [1] - RMB cross-border payments under securities investment amounted to 24.2 trillion yuan, representing over 70% of the total, significantly enhancing Shanghai's status as a global RMB asset allocation center [1] - The cross-border RMB payment amount related to the real economy, including current accounts and direct investments (excluding cash pools), totaled 3.5 trillion yuan, reflecting a 14% year-on-year growth, which is 5 percentage points higher than the overall growth rate [1] Group 1 - The PBOC Shanghai Headquarters has implemented various measures to expand the use of RMB in cross-border transactions, including collaboration with local departments and financial institutions to enhance the convenience of cross-border financial services [2] - Key initiatives include promoting RMB usage among major enterprises, sectors, and regions, as well as piloting comprehensive reforms in offshore trade finance services in the Lingang New Area [2] - The Shanghai Headquarters aims to improve cross-border financial service capabilities, optimize business processes, and enhance the efficiency of RMB fund payments to better support stable foreign trade and investment [2]