Hong Kong, China News Service, September 25 (China News Service) – The People’s Bank of China (PBOC) announced on the 25th that the Digital RMB International Operations Center officially began operations on the 24th. The center, established and managed by the Digital Currency Research Institute of the PBOC, is responsible for building and operating the cross-border and blockchain infrastructure for the digital RMB, promoting cross-border connectivity with domestic and international financial infrastructure, advancing the international operation of the digital RMB and the development of financial market businesses, and serving digital financial innovation.
According to reports, on the 24th, the Digital RMB International Operations Center business platform promotion meeting was held in Shanghai, which concentrated on promoting and introducing the functions of the digital RMB cross-border digital payment platform, digital RMB blockchain service platform and digital asset platform (hereinafter referred to as the “business platform”) to relevant institutions, marking the official operation of the Digital RMB International Operations Center.
At the meeting that day, Lu Lei, Deputy Governor of the People’s Bank of China, said in his speech that the upgrade and evolution of the currency and payment system in the digital age is a historical necessity. The People’s Bank of China is committed to providing open, inclusive and innovative solutions to improve the global cross-border payment system. The three principles of “losslessness, compliance and interoperability” proposed have become the basic guidelines for the construction of cross-border infrastructure for legal digital currency. At present, the cross-border financial infrastructure system of digital RMB has been preliminarily constructed. At the same time, explore asset digitalization innovations that are conducive to improving regulatory efficiency and penetration, and enhance settlement transparency and the intelligence of value flow. The establishment of the business platform in Shanghai is not only a concrete measure to facilitate cross-border payments, but also highly consistent with the construction of the core functions of Shanghai International Financial Center. In the future, the People’s Bank of China will continue to support the steady progress of the Digital RMB International Operation Center and provide solid support for the facilitation of cross-border trade and investment and financing.
Wu Wei, member of the Standing Committee of the Shanghai Municipal Party Committee and Executive Vice Mayor, stated in his speech that all relevant departments in Shanghai should fully leverage their business platforms to continuously expand the application scenarios and scope of digital RMB, thereby helping to enhance the internationalization of the RMB. He also hoped that the Digital RMB International Operations Center would continue to strengthen technological innovation and application, continuously improve the security, stability, and convenience of the business platform, and provide solid technical support for promoting the deep integration of finance and the real economy.