China has launched the system of international payments CIPS

Almaty. October 8. Silkroadnews - Shanghai hold ceremony of launching the Chinese system of international payments (CIPS), reported Russian media.
"Getting Started CIPS system will improve the efficiency of cross-border payments in RMB and encourage the use of the yuan in the international scale, will have a profound impact on improving the support of the real economy and the exit strategy of Chinese companies in the global markets", - quoted the media deputy chairman of the People's Bank of China Fan Ifeya.
The system of international payments CIPS will enable foreign market participants to conduct calculations in yuan directly with Chinese partners, the report says.
The Chinese government hopes to use it to increase the level of international recognition of its currency.