Beijing, August 28: According to recent data from the People’s Bank of China, the Cross-Border Interbank Payment System (CIPS) now includes 192 countries and regions. China aims to accelerate the development and promotion of its rapid payment system while enhancing the interoperability of cross-border payment QR codes.
As of the end of June 2026, CIPS has a total of 210 direct partners and 1,619 indirect partners. Its services extend through over 5,200 banking institutions across 192 countries and regions, significantly strengthening the global capacity for RMB cross-border settlement.
Starting from October 17, 2026, the service hours for China’s high-value real-time payment system will be extended from ‘5×21+12 hours’ to ‘5×22.5+13.5 hours’. This change will enhance the technical interoperability of the global payment network. Additionally, China will continue to promote the interoperability of cross-border payment QR codes.
Furthermore, Run Tachi, president of the China Payment and Clearing Association, stated that China will consistently expand the number of accessible wallets and the scope of acceptance networks. The country will also optimize the acceptance environment for foreign wallets, improving payment convenience for visitors coming to China. This initiative aims to meet diverse payment needs and steadily advance the systematic openness of domestic barcode payment interoperability and acceptance networks.
(Source: China Media Group, Beijing)
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