November 24, 2022

China’s Yuan-Centred Payment Network No Match Yet for US-Dominated Global Financial System: Experts

Source: South China Morning Post

Journalist: Orange Wang

To date, there is no “smoking gun evidence” that Russian institutions have used CIPS to transact and “meaningfully” evade sanctions imposed by the US, according to Emily Jin of the Centre for a New American Security, a think tank.

“But that’s the fear right down the line … for entities to be able to practice that,” Jin said at a virtual event hosted by the Peterson Institute for International Economics in Washington on Wednesday.

Felix Chang, a visiting law professor at the Ohio State University, agreed no direct line could be drawn at present between CIPS and sanctions evasion.

Read the full story and more from South China Morning Post.


  • Emily Jin

    Former Research Associate, Energy, Economics, and Security Program

    Emily Jin is a former Research Associate for the Energy, Economics, and Security Program at CNAS. Her research focuses on U.S.-China competition over regional influence and gl...