Past sibos: Geneva 2016

CIPS: The next generation of financial market infrastructure for RMB internationalisation

26 September 2016
15:30 to 16:30
Community session Conference Room 5
Departmental Manager
Bank of China
Section Head/Supervisor
Board Member / CEO / CFO
Payment&clearing association of China
Managing Director/ Director / EVP
China International Payment service corp
Departmental Manager

Since 2009, the People's Bank of China (PBOC) has released a series of policies to facilitate use of RMB for cross-border trade and investment, as well as to deepen bilateral currency cooperation with other markets. At present, RMB has become China's second largest cross-border payment currency and the world's fifth largest payment currency, according to the SWIFT RMB Tracker. Therefore, to better accommodate growing needs of global RMB liquidity and convertibility, it’s crucial to upgrade relevant infrastructure system. Cross-border Interbank Payment System (CIPS) provides clearing and settlement services for participants in the cross-border RMB business. It is a significant financial market infrastructure in China and has been live since October 2015. Come along to this session to learn about its latest developments and how your institution can be engaged in.

Main conference session
26 September 2016
15:30 to 16:15
Main conference session SWIFT Auditorium
Open theatre session
26 September 2016
15:30 to 16:00
Open theatre session Open Theatre 1