On December 29, PBC Deputy Governor Fan Yifei visited CIPS, met the staff who worked on the 2017 year-end closing and got briefed on the 2017 CIPS business operation.
CIPS had been running smoothly for 560 working days, with a 100% system availability rate, since it went into operation on October 8, 2015. As of December 2017, there were 31 direct participants and 677 indirect participants, covering 144 countries and regions. The number of transactions and business volume processed by CIPS increased 99% and 234% in 2017. Serving as the clearing and payment channel for the Hong Kong-China Bond Connect, CIPS had also been facilitating participants with safe and efficient settlement services. On October 9, CIPS successfully implemented DVP settlement, which significantly increased the transaction efficiency of Bond Connect.
CIPS’s work was recognized and approved by Deputy Governor Fan Yifei, he also gave his season’s greetings to CIPS staff and expressed his expectations for future achievements.
Department heads of PBC General Executive Office, Payment and Settlement Department, Technology Department and China National Clearing Center accompanied Deputy Governor Fan Yifei on the visit.
