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HVPS (CNAPS)

RTGS

China's domestic RTGS for high-value interbank transfers. Backbone of the national payment system. Operated by CNCC under PBoC. Covers 800+ cities. Minimum value RMB 50,000.

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

ClearingPost does not assess whether HVPS (CNAPS) 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 HVPS (CNAPS).

ClearingPost holds sourced upcoming items for 13 of 149 systems; an empty list is a statement about ClearingPost's records, not about a system's plans.

Changed

All recorded changes →

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

  • Data update
    HVPS (CNAPS) average daily transactions decreased to 1.6812M (Q2 2026 daily average; 103 million quarterly) · HVPS (CNAPS) average daily value decreased to RMB 41.96T/day (Q2 2026; RMB 2,559.31T quarterly) · HVPS (CNAPS) daily transaction volume decreased to 1.6812 million transactions/day (Q2 2026; 103 million quarterly) · HVPS (CNAPS) daily transaction value decreased to RMB 41.96 trillion/day (Q2 2026; RMB 2,559.31 trillion quarterly)
    recorded 22 Sep 2026 · 2026年第二季度支付体系运行总体情况
  • Data update
    HVPS (CNAPS) average daily transactions increased to 1.71M (Q1 2026, 59 business days) · HVPS (CNAPS) average daily value increased to RMB 42.62T/day (Q1 2026; RMB 2,514.72T quarterly over 59 business days) · HVPS (CNAPS) daily transaction volume increased to 1.71 million transactions/day (Q1 2026; 101 million quarterly over 59 business days) · HVPS (CNAPS) daily transaction value increased to RMB 42.62 trillion/day (Q1 2026; RMB 2,514.72 trillion quarterly over 59 business days)
    recorded 8 Sep 2026 · PBoC Payment System Report (Q1 2026)
  • Data update
    HVPS (CNAPS) average daily transactions increased to ~1.5968M (Q2 2025) · HVPS (CNAPS) average daily value updated to RMB 35.57T/day (Q2 2025; RMB 2,169.56T quarterly over 61 business days)
    recorded 3 Sep 2026 · Payment System Report (Q2 2025), People's Bank of China

Sources No status page recorded · 12 of 16 fields carry a source and a recorded date · latest sourced entry recorded 22 Sep 2026 · evidence details ↓

Record · HVPS (CNAPS)

Country
China (CN)
Currency
Chinese Yuan (CNY)
Operator
CNCC (China National Clearing Center) / PBoC
Type
RTGS
Operating Window
00:00–09:00 UTC · Mon–Fri
Year Established
2005
Tier?
Tier 1
ISO 20022?
Migrated
Region
Asia-Pacific
Settlement Type?
Gross
Participants
1,730 direct, 100,000+ indirect
Avg Daily Transactions
1.6812M (Q2 2026 daily average; 103 million quarterly)
Avg Daily Value
RMB 41.96T/day (Q2 2026; RMB 2,559.31T quarterly)
Notes

Part of CNAPS platform alongside BEPS and IBPS. CNAPS2 went live with ISO 20022 messaging in 2013. Settlement accounts held at PBoC branches. Automatic repo function for liquidity management. Extended hours to 20:30 CST since September 2015 to support CIPS. SZFSS (Shenzhen Financial Settlement System) is a regional clearing link between Shenzhen and Hong Kong.

CNCC (China National Clearing Center) / PBoC official website →
See all RTGS 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)
CIPSHybrid
China · CNY · CIPS Co.
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 · HVPS (CNAPS)

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 HVPS (CNAPS) (1)

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

GuideMar 12, 2026Summary names “HVPS”
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

Wider coverage that mentions HVPS (CNAPS) (2)

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

NewsMar 23, 2026Text mentions “HVPS”
SWIFT Structured Address Mandate Looms as Industry Surveys Reveal a Third of Payment Providers Unprepared
Industry surveys reveal that only a third of payment service providers are fully prepared for the November 2026 SWIFT CBPR+ structured postal address mandate, while nearly half of banks report that their customer address data remains in legacy unstructured formats. The readiness gap raises operational risk for cross-border payment processing across every major RTGS system that connects to the SWIFT network.
External source · SWIFT
MigrationMar 5, 2026Text mentions “HVPS”
ISO 20022 Migration Tracker: Who's Migrated, Who's Next
The global payments industry is migrating to ISO 20022. Here's the current status across major RTGS systems, SWIFT, and card networks.
External source · SWIFT