金改前沿丨“朋友圈”不断扩容，CIPS升级为人民币跨境生态重要枢纽

Core Insights - The CIPS (Cross-Border Interbank Payments System) is expanding its network, with 1,683 participants expected by May 2025, including 174 direct participants across 120 countries and regions [1][6] - CIPS is recognized as a key infrastructure for RMB cross-border payment and settlement, providing secure, efficient, and low-cost services [2][6] - Recent agreements with six foreign institutions mark the first direct participation of foreign entities from Africa, the Middle East, Central Asia, and Singapore, enhancing cross-border RMB usage [2][3] Group 1: CIPS Expansion and Participation - CIPS has signed agreements with six foreign institutions, including Standard Bank and Abu Dhabi First Bank, expanding its direct participant base [2][3] - The system's coverage now includes significant regions, facilitating RMB transactions in Africa, the Middle East, and Central Asia [2][3] - The number of foreign direct participants is rapidly increasing, providing new momentum for CIPS's network expansion [3] Group 2: Benefits of CIPS for Businesses - CIPS significantly reduces cross-border remittance times from 3-5 days to 2 hours, enhancing trade efficiency between Central Asia and China [4] - Companies are increasingly using RMB for cross-border transactions to mitigate exchange rate risks and reduce transaction costs [5][6] - The integration of CIPS into corporate cash management and trade financing is improving the overall cross-border payment experience [4][6] Group 3: Future Outlook and Trends - CIPS is expected to enhance collaboration with various financial institutions to support Chinese enterprises' international operations [6] - The demand for comprehensive financial services, including cash pool management and exchange rate hedging, is rising among businesses [6] - The application of digital technology and regional policy differences are emerging trends that CIPS is addressing to facilitate trade and investment [6]