降低国际机构接入门槛 人民币跨境支付系统将迎新规 “朋友圈”持续扩容

Core Viewpoint - The People's Bank of China has revised the rules for the Cross-Border Interbank Payment System (CIPS) to adapt to its business development needs, aiming to enhance the internationalization of the Renminbi and lower the entry barriers for international institutions [1][4]. Group 1: Regulatory Changes - The revised draft consists of six chapters and thirty-one articles, focusing on participant management, risk control, and emergency response, while emphasizing the operational responsibilities of CIPS institutions [2][3]. - The new rules allow foreign institutions to apply for direct participation in CIPS with more flexibility, such as permitting them to appoint qualified domestic participants as custodians, which was previously restricted [2][4]. Group 2: CIPS Development and Impact - CIPS has processed over 675 trillion yuan in payments since its launch, with a compound annual growth rate of 35% in transaction volume and 30% in value from 2022 to 2024 [5][6]. - As of May 2025, CIPS had 174 direct participants and 1,509 indirect participants across 120 countries, indicating a significant global reach and demand for Renminbi settlement [6][8]. Group 3: Strategic Importance - The revision of CIPS management rules is seen as a key move to enhance the competitiveness of the cross-border payment system and reflects China's strategic commitment to promoting the global use of the Renminbi [4][9]. - CIPS is positioned as a major player in the global payment landscape, alongside SWIFT and CHIPS, marking a substantial breakthrough in establishing a multipolar international monetary system [7][9].