Govt trade statistics now show RMB

Explaining the government's introduction of the renminbi into statistics of the country's trade and investment, China's Commerce Ministry spokesman Shen Danyang told reporters on Tuesday that the move was in line with international practices and driven by market forces.

Shen said that it is common international practice for developed and developing economies to present official trade and investment statistics using the local currency.

In addition, the demand for using renminbi is increasing in the markets at home and abroad in the wake of China's increasing economic power and its improvement of the exchange rate mechanism, Shen said.

China's trade and investment statistics had been published in US dollars. But starting this year the government added the renminbi figures.