China's c bank plans payment system development

CHINA - The People's Bank of China (PBOC), the central bank of China, has selected a database and application development tool for its China National Advanced Payment System (CNAPS).

The CNAPS will be used to solve the long-existing problem of inter-bank capital payment clearance and settlement in China.

The CNAPS, made up of a large-sum, real-time payment network and a small-sum, volume payment network, will access 8,964 commercial banks and nodes across 324 cities in China. This system is pla

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