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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.
US-China trade war

Why the biggest threat to US dollar dominance may well be Washington itself

Economic sanctions, access to US-led banking systems are powerful tools, but overuse reduces their effectiveness over time, Congress told.

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Yuan’s ‘golden window’ is open, former PBOC governor says as US dollar ebbs

China’s yuan may be going global faster than Western data suggests, analysts say

Many yuan transactions are now routed through China’s own global payment system, which often does not show up in traditional data sets, analysts say.

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