Middle East Tensions Propel Record ¥1.22 Trillion in China’s CIPS Transactions

China’s cross-border payment system processed a single-day record of 1.22 trillion yuan, driven by surging demand amid Middle East tensions. Analysts say the Iran conflict has boosted yuan settlements in oil trade, while stable exchange rates and expanded infrastructure supported the rise. In March, average daily CIPS volumes climbed nearly 50% from February, with transaction numbers surpassing 35,000 per day. Economists predict the growing yuan-payment network will further advance global adoption and strengthen China’s financial influence.

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