President of the National Bank of Georgia (NBG) Natia Turnava held an online meeting with Fu Huang, President of China’s Cross-Border Interbank Payment System (CIPS), to discuss future cooperation and review progress made over the past year.

According to the NBG, the meeting assessed cooperation between CIPS, the Georgian financial sector, and the National Bank, with both sides describing 2025 as a “very prolific and productive year.”

Turnava highlighted that CIPS representatives conducted several workshops for Georgian financial institutions, and that a number of Georgian commercial banks have applied for direct membership in CIPS, with their applications currently under review.

“This year, for the first time, Georgian commercial banks applied for direct membership in CIPS, which will enhance cooperation efficiency and eliminate unnecessary intermediaries in yuan-denominated transactions,” the NBG said.

The bank added that efforts are ongoing to enable additional Georgian commercial banks to benefit from direct participation in CIPS. Integration into the system is expected to diversify cross-border payment mechanisms used by Georgian financial institutions and support growing trade and tourism ties between Georgia and China.