Chinese authorities intend to launch own payment system CIPS by end of the year

Almaty. 10 September. Silkroadnews - The Government of the People's Republic of China is going to launch its own payment system CIPS by the end of the year, reported Russian media.
According to Li Keqiang, the Chinese government has taken a number of steps to become more open to the world community.
The authorities of the PRC also stated their intention to reduce the key rate, which was made possible by means of the large reserves of foreign currency and the high savings rate. The Chinese government intends to continue to give easing access of private capital to finance the public sector. The aim of the policy of openness of Beijing authorities - is to assist in the development of the private banking system and the opening of the country's financial sector for participants around the world.
In the future, China will simplify the access of foreign central banks in the currency market of the state.