The Industrial and Commercial Bank of China (ICBC) on Monday unveiled a comprehensive cross-border renminbi financial solution, with a special financing quota of 1 trillion yuan to facilitate the RMB use in international trade and investment.

Under the plan, ICBC will establish the 1-trillion-yuan quota and introduce 10 major service systems, including global account opening, cross-border trade settlement, industrial investment and global cash management.

The package will provide qualified domestic and overseas enterprises and institutions with cross-border RMB financing support, with a focus on fostering new quality productive forces, digital trade and Chinese companies expanding abroad.

"While focusing on renminbi, we will deeply integrate resources across local and foreign currencies, domestic and overseas markets, and online and offline channels, so that the RMB's 'circle of friends' will continue to grow, with the foundation for cooperation continuously consolidated. Meanwhile, we will further promote innovative applications of the central bank's mBridge and cross-border QR code payments, improve digital and intelligent cross-border RMB services, and make fund flows safer and more efficient in order to help enterprises address problems in cross-border payment collection," said Liao Lin, ICBC's Chairman while addressing the launch ceremony.

The People's Bank of China (PBOC), the country's central bank, said China's cross-border RMB policies have continued to improve, and enterprises have made new progress in using the RMB for cross-border transactions, with the currency becoming an important payment and settlement tool for Chinese companies going global.

"In 2025, China's commercial banks handled 71 trillion yuan (about 10.32 trillion U.S. dollars) in cross-border RMB collection and payments on behalf of clients, up 10 percent year on year, with the RMB settlement in goods trade accounting for one-third. Moving forward, the central bank will continue to expand the use of the RMB in international trade and investment and financing, steadily develop the offshore RMB market, increase the supply of RMB-denominated assets, and further enhance the level of opening-up under the capital account," said PBOC Deputy Governor Tao Ling.