HKMA and CIPS integration: Long way to go, but there is hope
The HKMA has said that it will continue to integrate its gross settlement system with China’s settlement system CIPS, which will streamline payments and give treasurers access to RMB. But obstacles remain, and no timeframe is set.
The Hong Kong Monetary Authority (HKMA) has said that it will continue to develop its renminbi real-time gross settlement system to match business growth and compliment China’s newly-launched Cross-border Interbank Payment System (CIPS). The improved integration of the two systems should offer treasurers better access to the renminbi for both cross-border and off-shore to off-shore payments but there is no timeline for when Hong Kong’s settlement system will be fully integrated into CIPS.
Sign-in to access CorporateTreasurer content.
Please sign in to your subscription to unlock full access to our premium CT resources.
Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial. Click the link to get started.
Note: This free trial is a one-time offer. You are eligible for one free trial per year.
If you are a treasurer, CFO or senior finance professional at a corporate, please register to the website here.
Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.
© Haymarket Media Limited. All rights reserved.
Top news, insights and analysis every Tuesday & Thursday
Free registration gives you access to our email newsletters
for unlimited access to all articles, newsletters
