- Nov 26, 2011
- 123,674
- 58,410
- 2,290
CIPS said it processed 135.7 billion yuan ($19.4 billion) a day in 2019. As of end-June, about 980 financial institutions in 96 countries and regions have used the system.BULLSHIT! Prove that!
They include 30 banks in Japan, 23 banks in Russia and 31 banks from African nations receiving yuan funds via infrastructure projects under Beijing’s Belt and Road Initiative, according to a survey by Nikkei newspaper in 2019.
FACTBOX-China's onshore yuan clearing and settlement system CIPS
Chinese banks may have to rely on the country's homegrown payment system for cross-border transactions if the U.S. imposes sanctions on lenders who serve officials involved in the implementation of the new national security law on Hong Kong.
www.reuters.com