Which among the following countries launched an International Payment System to globalize Yuan?
Which among the following countries launched an International Payment System to globalize Yuan?
[A]China
[B]Japan
[C]Taiwan
[D]Indonesia
China
China launched the first phase of its much anticipated China International Payment System (CIPS) that provides capital settlement and clearing services for cross-border Yuan transactions for financial institutions domestically and abroad. It will enhance efficiency and increase global use of the Chinese currency.
Originally written on
October 29, 2015
and last modified on
October 29, 2015.