陆磊：金融高水平双向开放应抓住陆海新通道建设契机

Core Viewpoint - The Chinese government is focusing on enhancing financial support for the construction of the Western Land-Sea New Corridor, which is a key component of the Belt and Road Initiative, by expanding financial cooperation and creating a structured financial network with relevant countries [2][3]. Financial Support for the Western Land-Sea New Corridor - The People's Bank of China (PBOC) and several government departments have issued guidelines to accelerate the development of the Western Land-Sea New Corridor, which connects 12 provinces in western China and reaches over 580 ports in 127 countries [2]. - The corridor serves as a crucial node in the Belt and Road Initiative, linking southern China to Southeast Asia and the Indian Ocean, and connecting western China to Central Asia and Europe [3]. Key Measures in the Guidelines - The guidelines propose 21 key measures across six areas, including improving financial organization collaboration, building a high-quality financial system, and enhancing cross-border financial supervision [5]. - Specific measures include expanding the use of the Renminbi (RMB) in cross-border transactions and exploring international cooperation in digital finance, particularly through the use of digital RMB [5][6]. Digital Currency Initiatives - The PBOC has made progress in establishing new pathways for cross-border payments using digital RMB, aiming for faster settlement times for businesses [6]. - The guidelines emphasize the importance of expanding the geographical scope of digital RMB applications and supporting cross-border payment projects with countries like Thailand and Singapore [5][6]. Highlights of the Guidelines - The guidelines focus on regional collaborative development, addressing the common needs of various provinces while allowing for tailored financial services [8]. - They also emphasize institutional innovation to provide efficient financing and settlement services for enterprises [8]. - The integration of data flows and financial services is highlighted, aiming to enhance the effectiveness of financial services through digitalization [8]. - The guidelines reflect China's commitment to increasing openness in the financial sector, particularly in the context of international cooperation in digital and green finance [8].