BEIJING -- Renminbi-denominated cross-border trade settlement hit 3.08 trillion yuan (about $440 billion) in the first half of the year, central bank data showed Friday.

Of the total, 2.19 trillion yuan came from cross-border trade in goods, and 890 billion yuan came from cross-border trade in services and other current account items, said the People's Bank of China.

Yuan-denominated direct investment settlement stood at 1.72 trillion yuan in H1, with 510 billion yuan from outbound direct investment and 1.21 trillion yuan from inbound foreign direct investment.

In 2019, yuan-denominated cross-border trade settlement amounted to 6.04 trillion yuan.