BEIJING -- China's RMB settlements with Belt and Road countries stood at 5.42 trillion yuan ($763.4 billion) in 2021, up 19.6 percent year on year, according to the central bank.

It accounted for 14.8 percent of China's total cross-border use of RMB in 2021, said a report released by the People's Bank of China.

The RMB settlements climbed 14.7 percent in trade of goods and 43.4 percent in direct investment.

By the end of 2021, China had signed bilateral currency swap agreements with 22 countries along the Belt and Road and established RMB clearing arrangements in eight countries along the Belt and Road.