Hong Kong Exchanges and Clearing Signs MOU with CIPS Operator Today to Strengthen Offshore RMB Settlement

Hong Kong Exchanges and Clearing Limited announced today that it has signed a memorandum of understanding with Cross-border Interbank Payment System (CIPS) operator to deepen cooperation in cross-border RMB business. Under the agreement, HKEx's subsidiary Hong Kong OTC Clearing Limited plans to submit an application to become a CIPS direct participant by end-2026, with CIPS providing necessary guidance and training. Upon approval, the subsidiary will conduct RMB fund settlement directly through CIPS, enabling more efficient cross-border RMB clearing and settlement services for participants.
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