On April 11th, 2017, CIPS operator held the 2017 Q1 business seminar in Shanghai. More than 50 representatives, including department heads of the Payment and Settlement Department of the PBOC, CNCC, 28 direct participants and CIPS operator attended the seminar.
CIPS operator briefed on CIPS’s 2017 Q1 running state, descried how participants accessed the backup center and how the site switch drills were conducted, provided feedback on participants’ common concerns about business migration, business coverage, practice standards and so on, and presented how participants were developed in the past and what the future expansion plan would be.
Participants then had a discussion about CIPS’s Q1 running state and the construction of CIPS Phase II. The hottest issues during the discussion included plans of CIPS Phase II, functional enrichment of the system, expansion plans of overseas participants, standardization of operational specifications as well as business standards, and methods of business promotion and marketing. Good suggestions were also made in the discussion.
Gao Yangzong, deputy director of the Planning & Research Office of the PBOC attended the seminar and the following were the ideas he shared during the seminar:
First, related parties of CIPS should fully recognize the sustainable and rapid development of cross-border RMB business which would be the general trend and promote the development of the business in the long run.
Second, emergency management should be improved and related drills should be conducted to maintain business continuity of the system.
Third, CIPS operator should continue to support the “Belt and Road” Initiative and the “Going Global” Strategy, promote business development, accelerate market expansion and create a global CIPS user community so that scale effect would appear and CIPS’ role as the main channel would be better played.
CIPS operator will make a study of participants’ feedback and suggestions and make every effort to solve the problems concerning related parties in the process of business development and service optimization. CIPS operator will also draw lessons from the past and bring new approach to improve service levels and business capacity without compromising business continuity of the system.
