China's international operation center for the digital RMB has begun operations in Shanghai, the People's Bank of China (PBOC) announced. The launch follows eight measures introduced by PBOC governor Pan Gongsheng at the Lujiazui Forum in June, aimed at advancing digital finance in the city.
According to Pan, the new center is designed to support the internationalization of the digital currency, expand financial market services, and encourage digital finance innovation.
Three platforms were unveiled alongside the center's launch. These include a cross-border digital payment platform, a blockchain service platform, and a digital asset platform.
Tian Xuan, president of the National Institute of Financial Research of Tsinghua University, said the launch marked a step in the digital RMB's development. "It contributes to enhancing China's influence in the global financial system and provides an open, inclusive, and innovative Chinese solution for improving the global cross-border payment system," Tian said.
Source: State Council Information Office