ResearchPolicy2026-10-11
Offshore entrepot rule one bank, one currency — CIPS direct clearing cuts settlement friction to T+1
The Goods Trade FX Guidelines require each offshore entrepot deal in principle to be handled at one bank and in one currency. SNSUC funnels re-export settlement into a single CIPS-direct-clearing yuan channel, paired with SHA-256 title fingerprints, compressing the title transfer and payment friction from T+2 to T+1 while meeting the cross-border declaration note requirements.