What is more striking is that trade taking place entirely outside the euro area – for instance, between EU countries that have not yet adopted the euro as well as between countries seeking to accede to the EU – is also being invoiced and settled in euro.
In the complex and changing international environment and facing the arduous domestic task of reform, development and stability, under the leadership of the CPC Central Committee and the State Council, the PBC continued the approach of seeking progress while maintaining stability, reform and innovation and achieved remarkable results in the various fields of central bank functions.