Key Points
- CIPS handled 175 trillion yuan of transactions in 2024 (up 43%).
- The CIPS network covers 121+ countries/regions.
- Hainan’s cross-border yuan settlement exceeded 5,514 billion yuan in 2025.
- Growing use of the yuan for international trade settlement.
- Infrastructure and policy support expand the yuan’s global footprint.
China’s efforts to expand the global use of the yuan (renminbi) are showing measurable progress as cross-border settlement and payment systems continue to strengthen.
According to the latest 2025 RMB Internationalization Report, the Cross-Border Interbank Payment System (CIPS) — China’s main clearing and settlement network for offshore yuan payments — expanded rapidly in 2024.
CIPS processed 175 trillion yuan (about $24 trillion) in cross-border payment transactions, up 43% year-on-year, and now connects participants across more than 121 countries and regions. This growth supports greater use of the yuan in trade and financial services globally.
Sources
https://www.sohu.com/a/980878188_121848672
https://m.thepaper.cn/newsDetail_forward_32532013
