Which among the following countries launched an International Payment System to globalize Yuan?
Which among the following countries launched an International Payment System to globalize Yuan?
[A]China
[B]Japan
[C]Taiwan
[D]Indonesia
China
China launched the first phase of its much anticipated China International Payment System (CIPS) that provides capital settlement and clearing services for cross-border Yuan transactions for financial institutions domestically and abroad. It will enhance efficiency and increase global use of the Chinese currency.