cips means

CIPS is a financial payment system in China that is specifically designed to handle cross-border payment and clearing operations in RMB. Its goal is to provide safe, efficient, convenient and low-cost fund clearing and settlement services, and CIPS plays an important role in supporting the construction of Shanghai's international financial center, promoting the two-way opening of the financial industry, enhancing the ability of financial services to the real economy, serving the "Belt and Road" capital financing, and contributing to the internationalization of the RMB, etc.

CIPS is a financial payment system in China, which is specially designed to handle cross-border payment and clearing of RMB.