Recently, changes in the international situation have triggered violent fluctuations in global assets, and global asset prices have generally fallen.
Against this background, RMB cross-border payment has experienced a significant increase in popularity.
In March 2026, the RMB Cross-border Payment System (CIPS) performed very well, with the average daily transaction volume exceeding 920 billion yuan, successfully setting a new high in the past year; the average daily transaction number exceeded 35,000, a significant increase compared with the previous month.
CIPS, as a system that provides fund clearing and settlement services for cross-border RMB business of domestic and foreign participants, is an important financial infrastructure that meets international standards.
In recent years, with the steady advancement of the internationalization of the RMB, the international status of the RMB has significantly improved, and the business of CIPS has also expanded simultaneously.
As of now, CIPS has 194 direct participants and 1,597 indirect participants, and its influence is constantly expanding.
The increasing popularity of RMB cross-border payments is not accidental, it is closely related to the current international situation.
Amid the general decline in global asset prices, the RMB has shown relative stability, attracting more investors and companies to choose to use the RMB for cross-border transactions.
The efficient clearing and settlement service of the CIPS system also provides strong support for RMB cross-border payments, making transactions more convenient and safer.
For enterprises, using RMB for cross-border payments can reduce exchange rate risks and reduce exchange costs.
At the same time, the continuous improvement of the CIPS system has also provided enterprises with more convenience and improved the efficiency of the use of funds.
In international trade, the increase in RMB cross-border payments will help promote the development of trade and strengthen economic cooperation between China and other countries and regions.
From a more macro perspective, the increasing popularity of RMB cross-border payments is an important manifestation of the process of RMB internationalization.
With the continuous expansion of CIPS business, the status of RMB in the international payment system will be further enhanced, which is of great significance in promoting the diversification and stable development of the global financial system.
In the future, as the internationalization of the RMB continues to advance, the CIPS system is expected to play a greater role and make greater contributions to the development of the global economy.
In short, the average daily transaction volume of CIPS in March 2026 hit a new high in nearly a year, which not only reflects the increasing popularity of RMB cross-border payments, but also heralds the continuous acceleration of the internationalization process of RMB.
Amid the complex and ever-changing international situation, the RMB will continue to demonstrate its unique charm and advantages, injecting new vitality into the stability and development of the global economy.
