Madrid, March 17: A significant event focused on RMB cross-border payments took place on March 16 in Spain’s capital, Madrid. This gathering provided European companies with a platform to better understand the RMB cross-border payment system and deepen practical cooperation with China.
Representatives from the economic and business sectors of Spain and Portugal actively participated, sharing insights on potential collaborative opportunities.
The discussions covered the development of the RMB cross-border payment system, the increasing use of RMB in China-Europe economic and trade transactions, and related financial services. Participants emphasized the vast potential for RMB usage in cross-border payments, highlighting how this system offers companies a more efficient, secure, and stable financial infrastructure, facilitating international trade.
Notable attendees included Yao Qing, the Chinese Ambassador to Spain, and Yang Kaiyu, head of the Madrid branch of the Industrial and Commercial Bank of China (ICBC). They stressed the importance of enhancing the global use of RMB and strengthening China-Europe economic relations in their addresses.
This event was jointly organized by the Industrial and Commercial Bank of China (ICBC), the China-Europe Business Association, and the Cross-Border Interbank Payment System (CIPS), marking a significant initiative to promote international financial cooperation.
(Taken from China Media Group, Beijing)
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