China's ICBC branch in Myanmar joins cross-border interbank payment system

YANGON, Nov. 2 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC) Yangon Branch has joined the Cross-Border Interbank Payment System (CIPS) to further promote the use of RMB for cross-border transactions in Myanmar and China.

A ceremony marking ICBC Yangon Branch's participation in the CIPS was held Wednesday in the commercial hub of Myanmar.

ICBC Yangon Branch is among the first commercial ba