Standard Bank was granted approval to use CIPS in June 2025 at the Lujiazui Forum in Shanghai and went live with the service that November. CIPS strips that step out, letting banks clear and settle payments directly in yuan, in close to real time. China remains Africa’s biggest trading partner by a wide margin, with bilateral trade hitting a record $295 billion in 2024 — $178 billion in Chinese exports to Africa against $117 billion moving the other way. Chinese customs data show trade accelerating further in 2025, up 12.4% in the first five months of the year to roughly $134 billion. For Standard Bank, the milestone is also a competitive marker.