Will CIPS fix China international payments?
Mar 16, 2015
CIPS concerns hold back corporates
Surveys show 74% of corporates with renminbi exposures cite CIPS delays as their most important regulatory concern, while others identify deregulation.
China’s International Payment System (CIPS) and the delays in its implementation are the primary corporate concern holding back renminbi usage, according to a survey by Allen & Overy and The Economist.* CIPS is a system for financial institutions in China to coordinate, access, and standardise renminbi payments from outside sources into China.
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