Standard Bank Surpasses CNY 8 Billion in CIPS Payments as Africa-China RMB Trade Grows

Standard Bank has processed more than CNY 8 billion — approximately $1.2 billion — through China's CIPS payment system, providing a concrete data point on the growing use of the renminbi in Africa-China trade settlement. The milestone reflects an accelerating shift in how African and Chinese counterparties are structuring bilateral trade finance.