BEIJING, June 6 (Xinhua) -- Society for Worldwide Interbank Financial Telecommunications (SWIFT) announced Tuesday that 10 Chinese banks have joined SWIFT global payments innovation (gpi) system and provided the gpi service since its initiation in May 2017, while 17 more Chinese banks will get started soon.
The gpi-ready banks include Bank of China, Industrial and Commercial Bank of China, Bank of Communications, China Minsheng Bank, China Guangfa Bank, China Construction Bank, Bank of Jiangsu, SPD Bank, China CITIC Bank and China Zheshang Bank, according to xinhua-run cnstock.com.
There are 17 more Chinese banks contracted in the system and are undertaking preparation work for providing the service.
The cross-border payment transactions of above mentioned 27 banks accounted for about 86 percent of the total cross-border payment of Chinese banks.
In addition, some foreign banks operating in China have also joined the SWIFT gpi network. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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