PBoC finally speaks out on CIPS
Jun 17, 2015
CIPS opens for renminbi flows
Banks began processing international renminbi payments through China’s new cross-border interbank payment system (Cips) sparking wide acclaim from participants.
The PBoC opened Cips for operation on October 8 to a torrent of renminbi transactions, according to bank press releases and notable renminbi pioneer corporate, IKEA.
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