The Cross-Border Interbank Payment System (CIPS) has signed agreements with 11 foreign banks. This expansion extends the system's reach to countries including Rwanda, Turkey, and Uzbekistan for the first time.
The network's capacity has grown, with participants now distributed across 133 countries and regions. The system's business operations currently cover 192 countries and regions globally.
Muzi Mawuso, the Treasury Director of First National Bank of South Africa, stated that becoming a direct participant allows banks to provide faster and more transparent settlement services, reducing reliance on multiple intermediaries.
A new cross-border guarantee product has been officially released to facilitate guarantee business between banks and between banks and enterprises, expanding the use cases for the yuan.
China is planning to accelerate the construction and promotion of a fast payment system and continue promoting the interconnection of cross-border payment QR codes.
Starting October 17, 2026, the operating hours of China's High-value Payment System will be extended from 5x21+12 hours to 5x22.5+13.5 hours to improve global payment network interoperability.
