Market welcomes CIPS talk as a boon for RMB global usage
sukporn - Fotolia
Market participants have welcomed reported indications by Yi Gang of the People's Bank of China (PBoC) that China’s Cross-border Inter-bank Payment System (CIPS) is set to be launched this year. They see it as a key step to facilitating RMB usage in global payments and making RMB clearing more market-driven.
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