人民币，大消息！变得越来越“好用”，CIPS作用日益凸显！

Core Viewpoint - The People's Bank of China (PBOC) is enhancing the cross-border payment system for the renminbi (RMB), aiming to improve payment convenience for foreign personnel in China and support the construction of a financial powerhouse, contributing to China's modernization [1][5]. Group 1: Cross-Border Payment System Development - The RMB cross-border payment system (CIPS) has become increasingly significant, with over 1,700 domestic and foreign participants connected by September 2025, reaching more than 5,000 legal banking institutions across 189 countries and regions [1][3]. - In 2024, CIPS is expected to handle RMB 175 trillion in cross-border transactions, marking a 43% year-on-year increase, with an average annual growth rate of 40.3% since the 14th Five-Year Plan [1][3]. - The PBOC is committed to building a multi-channel, widely covered, secure, and efficient RMB cross-border payment clearing network [3][5]. Group 2: Payment Infrastructure and Interconnectivity - The PBOC has successfully connected the fast payment systems of mainland China and Hong Kong, enhancing cross-border remittance efficiency and reducing costs for residents and businesses [4]. - A unified cross-border QR code payment gateway has been established, promoting international cooperation among payment institutions and facilitating mobile payment options for Chinese residents in over 70 countries [4]. - The development of a digital RMB cross-border payment platform is underway, with collaborations with central banks from Hong Kong, Thailand, and the UAE [3][4]. Group 3: RMB's International Standing - The RMB has become the largest settlement currency for China's external payments, the second-largest trade financing currency globally, and the third-largest payment currency, with a weight of 12.28% in the IMF's Special Drawing Rights (SDR) basket [10][11]. - In the first half of 2025, RMB cross-border payment amounts reached RMB 35 trillion, a 14% increase year-on-year, with a record high in both transaction amounts and proportions [10][11]. - The offshore RMB market is developing healthily, with over RMB 10 trillion in RMB financial assets held by foreign entities, and more than 80 countries have included RMB in their foreign exchange reserves [10][11]. Group 4: Bilateral Currency Swap Agreements - The PBOC has renewed bilateral currency swap agreements with multiple countries, including Iceland, the European Central Bank, and others, to enhance financial cooperation and facilitate trade [7][8]. - The bilateral currency swap agreements aim to provide liquidity and stabilize financial markets, with various agreements having different scales and effective periods [7][8].