Delivery Versus Payment (DVP) settlement has been fully provided in China’s inter-bank bond market from 1 August, 2008, with the publishing of the Announcement No. 12 [2008] by the People’s bank of China.

DVP settlement on China’s inter-bank bond market was first introduced among commercial banks in 2004 when the PBC connected the Central Bond Business System with the Large Value Payment System run by the PBC.

The Announcement No.12 describes channels for DVP settlement and the system’s arrangements for non-bank organizations, and stipulates provisions on DVP settlement on the inter-bank bond market in a rather comprehensive manner. (The People’s Bank of China)

• Longtop to Upgrade the Clearing Center Operation System for a Big Four Bank
• Domestic Foreign Currency Payment System Launched
• Multi-currency Cross-border Payment Arrangements between the Mainland and Hong Kong
• PBOC Kicked Off BEPS Pilot in Beijing
• CFETS Goes Live with New Inter-bank Currency Trading Platform
• Citi China Tops the China Foreign Exchange Trade System Poll
• Central Bank Publishes Progress Report on Payment Systems
• Longtop Wins FX System Contract from a Policy Bank