Core Insights - The People's Bank of China (PBOC) emphasizes the importance of cross-border payment cooperation with Hong Kong, leveraging financial technology innovations to enhance economic integration [1] - The digital yuan is being actively explored for cross-border payment solutions, with China being a pioneer in the development and application of central bank digital currencies (CBDCs) [1][2] - The establishment of the Digital Yuan International Operation Center in Shanghai and the Digital Yuan Operation Management Center in Beijing marks a significant step in the infrastructure for digital currency [2][3] Group 1 - The PBOC is expanding the Renminbi Cross-Border Payment System (CIPS) in Hong Kong and promoting interconnectivity between rapid payment systems [1] - The digital yuan international operation center in Shanghai has launched three major platforms: cross-border digital payment, blockchain service, and digital asset platforms [2] - The digital yuan operation management center in Beijing will oversee the core infrastructure of the digital yuan system and promote its development [3] Group 2 - The PBOC is pushing for a multilateral central bank digital currency bridge to explore new paradigms in cross-border payments [5] - The digital yuan cross-border payment platform is designed to facilitate bilateral cooperation with various monetary authorities, enhancing cross-border connectivity [5] - The integration of the "blockchain + digital asset" dual platform aims to improve regulatory efficiency and asset digitization, thereby optimizing economic resource allocation [5]
央行副行长陆磊:运用数字人民币探索跨境支付新方案