China has taken measures to 'sanction-proof' its economy by developing alternative financial systems and infrastructure, including developing its own iteration of SWIFT called CIPS (Cross-border Interbank Payment System) which not only does financial messaging but also settlement, unlike SWIFT which only does messaging.
factualpending
Speaker
Dr. Zong Yun LouEvidence Quote
“China has been taking measures to sanction proof its economy...cips the crossb interbank payment system...it also does a settlement right whereas Swift is only only does uh messaging”
Created: 8/10/2026, 10:46:22 PM
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