CIPS

2 posts tagged “CIPS”

Reading Notes & Opinions2026-09-28

RMB Internationalization is More than "Settling in RMB": A Cross-Border Financial Infrastructure is Taking Shape

Based on the RMB Internationalization Report (2026), this article examines the underlying financial infrastructure supporting cross-border RMB use, covering liquidity provision, account connectivity, CIPS backbone rails, retail payment links, and financing, investment, and risk management arrangements.

Payment Clearing Basics2026-09-14

From Bank Cards to NUCC, UnionPay & HVPS: A Comprehensive Map of China's Payment System

Starting from the central bank's latest payment system report, this article clarifies the hierarchy between accounts, tools, channels, and clearing systems, dissecting the roles of HVPS, BEPS, IBPS, UnionPay, NUCC, and CIPS.