Tag: China Cross Border Interbank Payment System

The trade relationship between China and the Association of Southeast Asian Nations (ASEAN) is expected to take center stage at the ASEAN Economic Ministers (AEM) gathering in Kuala Lumpur tomorrow. A consultation between the ten-country bloc and China will happen ...

China's alternative to the SWIFT international payment network is now available in Africa, following the announcement by Standard Bank, the continent's largest bank in terms of assets, as the first institution to offer the Cross-Border Interbank Payment System (CIPS). This is ...

China announced several new initiatives aimed at increasing global trade in the yuan and to hedge against the dominance of the U.S. dollar. Pan Gongsheng, the governor of the People’s Bank of China, proposed a future where the global financial system would rely on several currencies.