Xuan Gu Bao·2025-04-21 23:39Group 1 - The People's Bank of China and other authorities have issued a plan to enhance cross-border financial services in Shanghai, aiming to expand the coverage of the Cross-Border Interbank Payment System (CIPS) [1] - As of the end of December 2024, CIPS is expected to cover 185 countries and regions globally, with cross-border RMB payment amounts reaching 175 trillion yuan, a year-on-year increase of 43% [1] - The RMB has become the third-largest trade financing currency globally, indicating its growing importance in international trade [1] Group 2 - The ongoing tariff war is pushing China to accelerate the development of a settlement system using RMB to counter the dominance of the US dollar under the SWIFT framework [2] - The escalation of the tariff war and risks of global trade decoupling are expected to speed up CIPS development, leading to increased demand for upgrades in banking IT systems [2] Group 3 - Shenzhou Information has reported that it possesses technical reserves related to CIPS and has already implemented projects in cross-border and foreign currency systems [3] - Highgreat has indicated that its solutions in the RMB payment sector can assist clients in implementing various cross-border payment systems, including CIPS and SWIFT [3]