As expected it drew some media attention, with the familiar theme that the renminbi—which surpassed the Japanese yen to become the fourth-most traded currency in the world in August, according to ...

Developing nations are reconsidering their reliance on the USD for trade settlement and as a reserve asset due to sanctions and the perceived weaponization of SWIFT. The devaluation of currencies in ...

Nineteen banks – including nine foreign institutions – are connected directly to CIPS, allowing them to clear cross-border RMB payments without using an offshore clearing centre. The current working ...

BEIJING, July 30 (Reuters) - Chinese banks may have to rely on the country's homegrown payment system for cross-border transactions if the U.S. imposes sanctions on lenders who serve officials ...

China begins disclosing information about its official foreign exchange reserves to IMF BEIJING, October 8. /TASS/.The China International Payment System (CIPS) officially began its operations on ...