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

The RMB cross-border payment exchange event was held in Madrid, Spain on the 16th, providing a platform for European businesses to further understand the RMB cross-border payment system and deepen practical cooperation with China. Representatives from Spain and Portugal attended the event in the economic and trade sectors. The event focused on the development of the RMB cross-border payment system, the application of the RMB in Sino-European economic and trade exchanges, and related financial services. Participants expressed that the future of using the RMB in cross-border payments is promising, and the RMB cross-border payment system is providing enterprises with more efficient and stable financial infrastructure. Chinese Ambassador to Spain Yao Jing and general manager of the Madrid branch of Industrial and Commercial Bank of China Yang Kaiyu also delivered speeches. Chairman of Cross-Border Interbank Payments and Clearing Limited Liability Company Wang Hongbo stated in his speech that in recent years, Sino-European economic and trade cooperation has continued to deepen, and the use of the RMB in cross-border trade settlement and investment financing has been increasing. As an important infrastructure for RMB cross-border payment clearing, CIPS will continue to improve its global network and service capabilities, looking forward to deepening cooperation with more European banks and enterprises to promote the development of RMB cross-border business and provide more efficient and convenient financial services for Sino-European economic and trade exchanges. The exchange event was jointly organized by Industrial and Commercial Bank of China, the China-Europe Business Alliance, and CIPS.