The central bank has released a new version of the "Business Rules for the RMB Cross-Border Payment System," clarifying that the Digital Currency Research Institute is included in the notification scope

The People's Bank of China recently issued the "Rules for the Cross-Border Payment System of Renminbi" (Yin Fa [2025] No. 248), which will take effect on February 1, 2026, replacing the 2018 version of the rules. The notice explicitly lists the "Digital Currency Research Institute" as one of the recipients of the notice, alongside the National Development Bank, various commercial banks, the Central Clearing House, and other institutions.

The new regulations clarify the operational structure and business processing procedures of the Cross-Border Interbank Payment System (CIPS), stipulating that CIPS should support a mixed settlement model, including real-time gross settlement and timed net settlement, and be capable of supporting "Renminbi payments, Renminbi and foreign currency simultaneous delivery (PvP), delivery versus payment (DvP) settlement, central counterparty clearing, and other cross-border Renminbi transaction settlement services."