Gradual rollout for China's payment system

As yet no details of how Cips will include existing offshore infrastructure


China's cross-border interbank payment system (Cips) may start working earlier than expected, further promoting the internationalisation of the renminbi by reducing the cost and timeframe for settling transactions.

Yi Gang, head of China's State Administration of Foreign Exchange, told Reuters the administration planned to launch the system this year, even though the People's Bank of China (PBoC) has neither confirmed nor announced a date for the launch.

Details are also scant on how the new

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: