Hong Kong Exchanges and Clearing (HKEX) has signed a memorandum of understanding with the Cross-border Interbank Payment System (CIPS) to enhance Hong Kong's offshore RMB settlement infrastructure. HKEX plans to apply to become a direct participant of CIPS by the end of 2026, with CIPS providing guidance and training for this application. This collaboration aims to deepen cross-border RMB business cooperation and support the long-term development of Hong Kong's fixed income and currency ecosystem. AI
RANK_REASON Partnership between a major exchange and a cross-border payment system to enhance financial infrastructure. [lever_c_demoted from significant: ic=1 ai=0.1]
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