At a political level, CIPS will foster integration in the international clearing system, cut down the drawbacks in clearing efficiency with respect to other currencies (especially USD) and promote the use of RMB in global trade.
CIPS is generally viewed as a measure flanking the RMB’s advancement into a global reserve currency, as manifested by the aim of being included in the basket of special drawing rights. On the whole, the relationship between China and Germany has developed very positively also beyond the economic cooperation.