人民币跨境支付系统将“升级” 新规明年2月份正式施行

Core Viewpoint - The People's Bank of China has revised the "Rules for Cross-Border Payment System of Renminbi" to adapt to the rapid development of the Cross-Border Interbank Payment System (CIPS), which will take effect on February 1, 2026, replacing the 2018 version [1][2]. Group 1: Regulatory Changes - The revised rules aim to better accommodate the expansion and management needs of CIPS participants, ensuring that the regulatory framework remains forward-looking and scientifically sound [2][4]. - The new rules specify detailed processes for account management, funding, and settlement for CIPS participants, reflecting the ongoing optimization of CIPS functions and services [2][3]. Group 2: CIPS Participant Structure - CIPS participants are categorized into direct and indirect participants, with direct participants holding CIPS accounts and having a CIPS identification number [3]. - Each direct participant is allowed to open only one zero-balance account, which does not accrue interest or allow overdrafts, ensuring that the account balance remains zero at the end of each day [3][4]. Group 3: Digital Currency Integration - The new rules include provisions for digital currency research, indicating a strategic focus on integrating digital currency into the cross-border payment framework [5]. - The digital renminbi is being actively developed for cross-border payments, with the establishment of the Digital Renminbi International Operation Center in Shanghai, which aims to enhance cross-border financial infrastructure [6][7]. Group 4: International Cooperation and Expansion - CIPS currently has 190 direct participants and 1,567 indirect participants, with a significant presence in Asia, Europe, and other regions, indicating a broad international engagement [8]. - The recent launch of the CIPS Hong Kong access point aims to reduce costs for overseas institutions seeking to utilize CIPS services, reflecting a commitment to enhancing global access [8].