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Cross-border Interbank Payment System (CIPS)

Cross-border Interbank Payment System (CIPS)
The latest news and top stories on Cross-border Interbank Payment System. A prominent Shanghai based financial market infrastructure, the Cross-border Interbank Payment System (CIPS) is dedicated to offering clearing and settlement services for cross-border yuan transactions. Authorised by the People’s Bank of China, its main areas of focus include facilitating international RMB payments, supporting trade investment and individual remittances. CIPS is recognised for its pivotal role in internationalising the yuan, reducing reliance on other currencies and payment systems, and supporting initiatives like the Belt and Road.
Banking & finance

How China opened the door to creating a direct rival to US payment systems

Beijing has removed several key restrictions on its payment system, allowing it to expand beyond yuan settlements, economist says.

China adviser sees bright future for yuan payment system in emerging economies

videocam

China expands digital-yuan push to Singapore and Asean trade routes

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

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