On the basis of analysis on the evolution of inter-bank settlement system and study on feature of the TARGET in Euro Area,the paper points out that separation of settlement of inter-bank in Euro Area has roughly come to an end by the implement of TARGET.

With the core topic of "international interbank clearing", the thesis introduces the current international payment and clearing situation, compares and analyses the clearing methods of different payment and clearing system home and abroad, then proposes suggestions to develop China s payment and clearing system to a level as high as international standard.