The RMB cross-border payment exchange event was held in Madrid, Spain.

A RMB cross-border payment exchange event was held in Madrid, Spain, on the 16th, to further help European enterprises understand the RMB cross-border payment system and to build a platform for practical cooperation with China. Representatives from the trade and economic sectors of Spain and Portugal attended the event.

The event focused on discussions about the development of the RMB cross-border payment system, the application of RMB in China-Europe trade and economic exchanges, and related financial services. Attendees expressed that the prospects for RMB usage in cross-border payments are broad, and that the RMB cross-border payment system is providing enterprises with more efficient and stable financial infrastructure.

Chinese Ambassador to Spain Yao Jing and Yang Kaiyu, General Manager of the Madrid branch of Industrial and Commercial Bank of China (Europe) Co., Ltd., also delivered speeches respectively.

Wang Hongbo, Chairman of the Cross-Border Interbank Payment System (CIPS), stated in his speech that in recent years, China-Europe economic and trade cooperation has continued to deepen, and the use of RMB in cross-border trade settlement and investment and financing has been increasing. As an important infrastructure for RMB cross-border payment clearing and settlement, CIPS will continue to improve its global network and service capabilities. It looks forward to deepening cooperation with more European banks and enterprises, promoting the development of RMB cross-border business, and providing more efficient and convenient financial services for China-Europe trade and economic exchanges.

This exchange activity was jointly organized by the Industrial and Commercial Bank of China, the China-EU Enterprises Alliance, and CIPS. (Xinhua News Agency)