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◆ClearingPost

CIPS

Hybrid

Cross-Border Interbank Payment System for RMB-denominated international payments. Phase 2 supports RTGS + DNS hybrid settlement, DvP, PvP, and CCP clearing. ISO 20022 native.

NowHours: computing from the published schedule…Service condition: not monitored details

ClearingPost does not assess whether CIPS is running normally.

Next

Dated items ClearingPost holds, each with its source and whether the date is confirmed

No supported upcoming items in ClearingPost's records for CIPS.

ClearingPost holds sourced upcoming items for 16 of 150 systems; an empty list is a statement about ClearingPost's records, not about a system's plans.

Changed

Material, sourced changes ClearingPost recorded; corrections to its own record are labelled as such

No substantive change recorded for CIPS in ClearingPost's change records.

The full activity log for this system, including context notes, is on the Changes page.

Sources No status page recorded · 6 of 12 fields carry a source and a recorded date · latest sourced entry recorded 16 Apr 2026 · evidence details ↓

Record · CIPS

Country
China (CN)
Currency
Chinese Yuan (CNY)
Operator
CIPS Co.
Type
Hybrid
Operating Window
00:00–24:00 UTC · Mon–Fri
Year Established
2015
Tier?
Tier 1
ISO 20022?
Native
Region
Asia-Pacific
Settlement Type?
Hybrid
Participants
193 direct, 1,573 indirect (Dec 2025)
Avg Daily Transactions
~35,800 (Jan 2026)
Avg Daily Value
~RMB 652B / ~$91B (2024 avg)
Notes

Launched Oct 2015 (Phase 1), Phase 2 May 2018. 193 direct + 1,573 indirect participants across 121+ countries (Dec 2025). PBoC is largest shareholder (16%). Cumulative volume exceeded ¥675T by May 2025. ~80% of transactions still use SWIFT for messaging. Connected to CNAPS HVPS for domestic settlement leg. Bank of China (Hong Kong) is the PBoC-designated offshore RMB Clearing Bank for Hong Kong, providing RMB clearing services via CNAPS, CIPS, and SZFSS.

CIPS Co. official website →
See all Hybrid systems →See all systems in China →ISO 20022 migration status →Payment rails by country →
Other systems in the same country or region
BOJ-NETRTGS
Japan · JPY · Bank of Japan
ZenginACH
Japan · JPY · Zengin-Net (JBA)
HVPS (CNAPS)RTGS
China · CNY · CNCC (China National Clearing Center) / PBoC
BEPS (CNAPS)ACH
China · CNY · CNCC (China National Clearing Center) / PBoC
IBPSFPS
China · CNY · CNCC (China National Clearing Center) / PBoC
CFXPSRTGS
China · USD/EUR/GBP/JPY/HKD/AUD/CAD/CHF · CNCC (China National Clearing Center) / PBoC

Operations · CIPS

Operational monitoring: not configured. ClearingPost does not monitor operational sources for this system and does not assess its current service condition.

Operations lists the systems ClearingPost monitors and the operational events it has recorded.

Intelligence for CIPS (3)

Coverage whose headline or summary names CIPS, or names its operator or country together with its system type. Each item quotes that evidence and says whether the source is the CIPS operator or external.

RegulationMar 10, 2026Headline names “CIPS”
China's Revised CIPS Rules Take Effect, Tightening Cross-Border RMB Settlement Standards
The People's Bank of China's revised CIPS business rules took effect February 1, 2026, updating participant management, settlement fund ownership, liquidity oversight, and queue management for the cross-border RMB payment system that now serves 4,900+ financial institutions across 180+ countries.
External source · People's Bank of China
NewsSep 15, 2025Headline names “CIPS”
CIPS Reaches 193 Direct Participants Across 124 Countries, Standard Bank Adds Africa Corridor
Standard Bank became the first authorized bank in Africa to offer direct CIPS transactions in September 2025, opening a major new corridor for yuan-denominated trade settlement across the continent.
External source · Finextra
AnalysisJan 1, 2023Headline names “CIPS”
CIPS Expansion - China's Cross-Border Interbank Payment System Growth
CIPS launched in October 2015 with 19 direct participants, primarily large Chinese banks and a handful of international institutions.
External source · BIS

Wider coverage that mentions CIPS (1)

These articles mention CIPS in their text but not in their headline or summary, so they are listed as context rather than as CIPS intelligence.

GuideMar 12, 2026Text mentions “CIPS”
China's Domestic Clearing Stack: A Practitioner's Guide to CNAPS, NetsUnion, and the World's Largest Payment Market
China processes more electronic payments than any other country, but its domestic clearing infrastructure remains opaque to many international practitioners. This guide maps the six core systems - HVPS, BEPS, IBPS, CFXPS, NetsUnion, and the bankcard interbank system - that form the backbone of Chinese payment settlement.
External source · People's Bank of China
Not listed here: 1 tagged article that does not mention CIPS. All coverage is in Insights.