How China's Yuan Cross-Border Payments Are Bypassing SWIFT

China Economy with Fexingo: Beijing's Policies, Trade, and Asia-Pacific Markets · Jul 23, 2026 · 10m · transcript

China's push to internationalize the yuan is accelerating through a parallel cross-border payment system that bypasses SWIFT. In this episode, Lucas and Luna examine how the Cross-Border Interbank Payment System (CIPS) has grown to process over 1.2 trillion yuan daily, up 45 percent year-over-year. They discuss recent data showing yuan-denominated trade settlements now account for 28 percent of China's total trade, up from 18 percent two years ago. The conversation also touches on how sanctions on Russia and geopolitical tensions have spurred adoption among emerging markets, with…