China’s CIPS system covers 192 countries and regions — ECNS
China’s Cross-Border Interbank Payment System (CIPS) covers 192 countries and regions. The People’s Bank of China reported this, ECNS writes.
According to Lu Lei, deputy governor of the People’s Bank of China, as of the end of June 2026, the system had 210 direct and 1,619 indirect participants. CIPS services were available through more than 5,200 banking institutions in 192 countries and regions.
Expansion of payment hours
Starting October 17, China’s large-value payment system will extend its operating hours from the “5x21+12 hours” regime to “5x22.5+13.5 hours.” ECNS noted that this is expected to strengthen technical compatibility with the global payment network.
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QR codes and mobile applications
Ren Deqi, chairman of the Payment & Clearing Association of China, said that the organization will expand the number of connected e-wallets and payment acceptance networks. The association also plans to optimize conditions for foreign mobile payment applications and expand payment options for visitors to China.
A separate area of work will be the interconnection of China’s domestic QR code systems. The association will also gradually and orderly open payment acceptance networks.
