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.

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 10 of 150 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

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