CIPS processes 29.49 trillion yuan worth of transactions in Q2
By Zhou Lanxu | chinadaily.com.cn | Updated: 2023-09-01 18:20
The Cross-border Interbank Payment System, or CIPS, processed 1.62 million transactions worth 29.49 trillion yuan ($4.06 trillion) in the second quarter of the year, up 60.4 percent and 29.04 percent year-on-year, respectively, the People's Bank of China said on Friday.
On average, CIPS, which specializes in renminbi cross-border payment clearing, processed 26,100 transactions worth 475.57 billion yuan on a daily basis in the second quarter, the PBOC said in a report on Friday.
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