TOPIC

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.

Yuan

Editorial | Why China’s yuan is gaining appeal

More countries find yuan financing attractive. Even without full convertibility, the Chinese currency offers something invaluable.

19 May 2026 - 7:15AM

China economy

Opinion | For the US dollar, a subtler shift than a ‘petroyuan’ order is underfoot

26 Apr 2026 - 4:30PMvideocam

US-China trade war

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

17 Apr 2026 - 4:57PMvideocam

Yuan

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

Zhou Xiaochuan, who laid the foundation for China’s currency to go global, says Beijing can capitalise on changes in the international monetary landscape.

13 Apr 2026 - 2:59PM

Yuan

Conflict catalyst: China’s yuan settlements hit record amid Middle East tensions

Single-day transactions via China’s Cross-border Interbank Payment System surge past 1 trillion yuan as Beijing’s moves to expand the yuan-payment network show signs of paying off.

9 Apr 2026 - 9:00PM

Yuan

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.

6 Apr 2026 - 11:00PMvideocam

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.

19 Mar 2026 - 10:00AM

China has been promoting its own cross-border payment system as it seeks to hedge against potential weaponisation of the US financial system. Photo: AFP

Banking & finance

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

Former ICBC chairman Chen Siqing says alternatives needed due to risk of financial weaponisation in US dollar-centric world.

26 Feb 2026 - 8:00PMvideocam

US-China trade war

Why China’s academics turned to de-dollarisation amid trade war, global shocks

Global instability has also pushed a once-niche academic debate into Chinese policy circles.

2 Feb 2026 - 8:00AM

Yuan

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.

24 Dec 2025 - 7:30PM

A customer makes a payment using China’s digital currency, or e-CNY, at a store in Beijing. Photo: Getty Images

Brics

Opinion | Brics is slowly but surely chipping away at US dollar dominance

US dollar supremacy isn’t going away any time soon. But through scaling up of initiatives and good governance, Brics can usher in a multipolar monetary order.

9 Oct 2025 - 5:00PM

Banking & finance

Opinion | Why Asia-Pacific is rewriting terms of trade from dollar to yuan

It is both a pragmatic response to deepening regional trade integration and, more profoundly, a strategic drive for fiscal independence.

2 Oct 2025 - 5:50PMvideocam

Yuan

China’s push to globalise yuan

China is trying to boost use of the yuan in international trade in order to pare the US dollar’s dominance of the global economy.

9 Jan 2026 - 4:07PM

Australia

Editorial | Record Chinese yuan loan to Australian miner makes good sense

The sizeable foreign loan is a landmark in Beijing’s efforts to internationalise the yuan as an alternative to the US dollar.

21 Aug 2025 - 6:45AM

A mine worker inspects conveyer belts transporting iron ore at the Fortescue Solomon iron ore mine, in the Sheila Valley, around 400km south of Port Hedland, in the Pilbara region of Western Australia. Photo: Reuters

Banking & finance

China’s push to promote its currency accelerates with landmark Fortescue loan

The 14.2 billion yuan (US$1.98 billion) deal is the largest ever offshore yuan syndicated loan to a non-Chinese company.

12 Aug 2025 - 3:00PMvideocam

Piles of imported iron ore, bauxite and coal are stored at a port in China’s eastern Shandong province. Fortescue is a major supplier of iron ore to China. Photo: AFP

Cross-border Interbank Payment System (CIPS)

.css-1pcrwvc{color:#2aa191;}Editorial | Why China’s yuan is gaining appeal

More countries find yuan financing attractive. Even without full convertibility, the Chinese currency offers something invaluable.

Opinion | For the US dollar, a subtler shift than a ‘petroyuan’ order is underfoot

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

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

Zhou Xiaochuan, who laid the foundation for China’s currency to go global, says Beijing can capitalise on changes in the international monetary landscape.

Conflict catalyst: China’s yuan settlements hit record amid Middle East tensions

Single-day transactions via China’s Cross-border Interbank Payment System surge past 1 trillion yuan as Beijing’s moves to expand the yuan-payment network show signs of paying off.

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.

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

Former ICBC chairman Chen Siqing says alternatives needed due to risk of financial weaponisation in US dollar-centric world.

Why China’s academics turned to de-dollarisation amid trade war, global shocks

Global instability has also pushed a once-niche academic debate into Chinese policy circles.

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.

Opinion | Brics is slowly but surely chipping away at US dollar dominance

US dollar supremacy isn’t going away any time soon. But through scaling up of initiatives and good governance, Brics can usher in a multipolar monetary order.

Opinion | Why Asia-Pacific is rewriting terms of trade from dollar to yuan

It is both a pragmatic response to deepening regional trade integration and, more profoundly, a strategic drive for fiscal independence.

China’s push to globalise yuan

China is trying to boost use of the yuan in international trade in order to pare the US dollar’s dominance of the global economy.

Editorial | Record Chinese yuan loan to Australian miner makes good sense

The sizeable foreign loan is a landmark in Beijing’s efforts to internationalise the yuan as an alternative to the US dollar.

China’s push to promote its currency accelerates with landmark Fortescue loan

The 14.2 billion yuan (US$1.98 billion) deal is the largest ever offshore yuan syndicated loan to a non-Chinese company.

Editorial | Why China’s yuan is gaining appeal