On May 19th, 2017, CIPS Operator and China Merchants Bank co-organized the 2017 CIPS Business Promotion & Cross-border Cooperation Forum in Shenzhen. This event aimed at promoting CIPS, developing indirect participants and sharing the latest information about CIPS with forum guests. Zhou Zanwen, deputy director of the PBOC Shenzhen central sub-branch cross-border business office, Qu Chunlei, general manager of Shenzhen Finance Electronic Settlement Center and more than 100 representatives from 45 banks attended the forum.
Zhang Xin, general manager of CIPS Operator
Zhang Xin, general manager of CIPS Operator presented in the opening remarks that CIPS had been running smoothly for over 400 working days with a 100% system availability rate and ever-growing business volume since it went into operation on October 2015. Up to now, CIPS direct participants have reached 28 and CIPS indirect participants have increased to 574, covering 85 countries and regions on 6 continents. The extensive range of CIPS participants had spread over 130 countries and regions in the world, with over 1900 financial institutions engaged. With the expansion of covered areas and the increase of business volume, CIPS’s strengths as the main channel of cross-border RMB payment has become more prominent. In addition, the distribution of CIPS’s participants highly coincides with that of the Belt and Road. Among all the 69 countries and regions along the Belt and Road, 419 financial institutions from 41 countries and regions have become CIPS participants. CIPS has prepared a cross-border RMB clearing and settlement highway for Chinese mainland and overseas financial institutions and clients.
Shenzhen, as the first special economic zone which is adjacent to Hong Kong and Macau and has advanced foreign trading relations, possesses unique advantages in the cross-border RMB business. The headquarters of China Merchants Bank is located in Shenzhen, which is advantageous in the competition of cross-border RMB financial services along the Belt and Road. China Merchants Bank was included in the first batch of CIPS direct participants and has been innovating on CIPS promotion and specialized services with the location advantage gained from the Belt and Road Initiative.
Qu Chunlei, general manager of Shenzhen Finance Electronic Settlement Center
Qu Chunlei, general manager of Shenzhen Finance Electronic Settlement Center made a brief introduction about the overall situation of cross-border RMB business in Shenzhen. He expressed a willingness to promote CIPS with the benefit of their advantageous location and help CIPS to provide better services for domestic and overseas financial institutions.
Xia Jinqing, deputy director of China Merchants Bank interbank customer service department
Xia Jinqing, general manager of China Merchants Bank interbank customer service department presented that China Merchants Bank had established agent relationships with 96 CIPS indirect participants, ranking first among Joint-stock banks and second among domestic commercial banks, and held an upward trend in developing agent relationships. Since CIPS, as important financial market infrastructure facilitating RMB internationalization, has built a global highway network for cross-border RMB clearing and settlement, Xia Jinqing appealed to participants to strengthen promotion and cooperation in CIPS business, pay close attention to FinTech’s innovative application in the area of cross-border RMB payment and cooperate in creating a vibrant CIPS financial ecosystem with openness and inclusiveness to provide strong support for cross-border RMB financial cooperation, the Belt and Road Initiative and other national strategies.
Duan Yunfei, deputy director of China Merchants Bank interbank customer service department, hosted the meeting.
Hou Ke, director of CIPS Operator marketing department, delivered a speech.
Hou Ke, director of CIPS Operator marketing department introduced CIPS’s development path, main features, participant development and future prospects. He also illustrated the participant access process and agent relationships between direct participants and indirect participants. The strengths of CIPS, explained by him, lie in supplying secure, convenient, and constantly updated services and support in cross-border RMB business to financial institutions.
Xin Wei from China Merchants Bank interbank customer service department, Huang Wei from China Merchants Bank asset management department and Fei Songran from China Merchants Bank Hong Kong branch lectured on topics such as “Specialized CIPS Services of China Merchants Bank”, “Cross-border financial products and services of China Merchants Bank”, “2017 World Economic Situation Prospects”, respectively.
Xin Wei from China Merchants Bank interbank customer service department delivered a speech.
Huang Wei from China Merchants Bank asset management department delivered a speech
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Fei Songran from China Merchants Bank Hong Kong branch delivered a speech
CIPS Operator has been trying its best to help direct participants establish agent relationships with indirect participants by using a variety of measures in business promotion, process simplification, information sharing and more. All of these have produced good results. In the future, CIPS Operator will continue collaborating with financial institutions, bringing forth new ideas in promotion methods and expanding coverage to support the Belt and Road Initiative.
At the forum
At the forum
At the forum
At the forum
On May 19th, 2017, CIPS Operator and China Merchants Bank co-organized the 2017 CIPS Business Promotion & Cross-border Cooperation Forum in Shenzhen. This event aimed at promoting CIPS, developing indirect participants and sharing the latest information about CIPS with forum guests. Zhou Zanwen, deputy director of the PBOC Shenzhen central sub-branch cross-border business office, Qu Chunlei, general manager of Shenzhen Finance Electronic Settlement Center and more than 100 representatives from 45 banks attended the forum.
