The central bank publicly solicits opinions on the "RMB Cross-Border Payment System Business Rules" to better meet the needs of CIPS business development

Odaily News The People's Bank of China publicly solicited opinions on the "Business Rules for the RMB Cross-Border Payment System (Draft for Comments)". The "Business Rules" clarify the detailed processes of account management, capital injection, and fund settlement for CIPS participants. With the continuous optimization of CIPS functions and services, it is necessary to adjust the relevant content of the "Business Rules" and only put forward principled requirements for the business behavior of participants to ensure the forward-looking and scientific nature of the normative documents and effectively adapt to the needs of CIPS business development and function upgrades. (Jinshi)