CHINA

Currency: Chinese Yuan equals (CNY) / Renminbi (RMB)

RTGS: CIPS – China Cross-border Inter-Bank Payment System

Message format currently in use: CIPS format based on XML ISO20022

ISO migration planned? Timeline: Live, since 2015

Governing body of the migration: People’s Bank of China

Coexistence vs Big Bang approach: N/A

Like-for-like vs Enhanced content: not documented