BEIJING — The business volume of cross-border payments of the Chinese currency renminbi (RMB) grew rapidly in 2021, a report from the People's Bank of China showed.

Last year, over 3.34 million transactions were handled through China's RMB cross-border payment system, surging 51.55 percent year-on-year, according to the central bank.

The total value of these transactions stood at 79.60 trillion yuan (about $12.53 trillion), jumping 75.83 percent from a year earlier.

On average, some 13,400 transactions were processed daily last year, with an amount of 318.4 billion yuan, the report stated.