Core Viewpoint - The establishment of the Industrial and Commercial Bank of China's (ICBC) Turkish Renminbi clearing bank marks the launch of Renminbi clearing services in Turkey, reflecting the growing internationalization of the Renminbi [1] Group 1: Renminbi Internationalization - As of June 18, the Cross-Border Interbank Payment System (CIPS) successfully connected with core foreign banks in Africa, the Middle East, Central Asia, and Singapore, expanding its global service network [1] - By the end of September 2025, CIPS is expected to connect over 1,700 domestic and foreign participants, reaching more than 5,000 legal banking institutions across 189 countries and regions on six continents [1] - The Renminbi has become the second largest trade financing currency globally and the third largest payment currency when calculated on a full-scale basis [1] Group 2: Currency Stability - The foreign exchange market has maintained a basic balance of supply and demand this year, with sufficient foreign exchange reserves [1] - The Renminbi exchange rate has shown two-way fluctuations, remaining stable at a reasonable and balanced level [1]
CIPS业务覆盖全球六大洲 人民币国际化提速
Sou Hu Cai Jing·2025-12-29 22:19