PANews reported on June 18 that according to CCTV News, a special event for cross-border bank-enterprise cooperation of the RMB Cross-Border Payment System (CIPS) was held in Shanghai. The RMB Cross-Border Payment System (CIPS) held a signing ceremony for direct participants with 6 foreign institutions and a direct participant launch ceremony with Bangkok Bank of Thailand. Among them, Standard Bank, African Export-Import Bank, First Abu Dhabi Bank, EldikBank of Kyrgyzstan, and United Overseas Bank became direct participants of CIPS, marking the first time that foreign direct participants of CIPS have covered Africa, the Middle East, Central Asia and Singapore offshore RMB centers, which will further facilitate the use of cross-border RMB.