A press conference is held in Beijing at the State Council Information Office on Dec. 4, 2015. [Photo: scio.gov.cn]

Latest stats show that the volume of cross-border renminbi receipts and payment reached nearly 9.6 trillion yuan or 1.5 trillion U.S. dollars during first ten months of this year.

That is a 20 percent year on year increase.

Yuan has become China's second largest cross-border payment currency, accounting for nearly 30 percent of the total volume of cross-border receipt and payments using domestic and foreign currencies.

Xing Yujing, monetary policy official at China's central bank, says the RMB is experiencing an ongoing and stable internationalization.

"The RMB has become an important currency in global foreign exchange transactions. Besides U.S. dollar, the interbank foreign exchange market in China has realized direct dealing between RMB and eight currencies including Australian dollar, pound, euro and Singapore dollar."

The People's Bank of China has established clearing arrangements in more than 20 countries and regions across the world.

It has also signed bilateral currency swap agreements with central banks or monetary authorities of 33 countries and regions, with the total volume exceeding 3.3 trillion yuan.

Earlier this week, the Chinese currency was admitted into the IMF benchmark basket, making another step on the road of its internationalization.