China launches international operations center for digital renminbi to promote the currency's internationalization.

 

digital currencies

China launches international operations center for digital renminbi to promote the currency's internationalization.

The People's Bank of China (PBOC) announced the official launch of the China Digital Renminbi International Operations Center in Shanghai, the country's financial hub.

The Chinese news agency Xinhua reported on Friday that the initiative is one of eight new measures announced by the Governor of the People's Bank of China, Pan Gongsheng, during the Lujiazui Forum in Shanghai last June.

During the forum, Ban said the center aims to promote the internationalization of digital currency and develop financial market services while supporting innovation in digital finance. With its launch, the center unveiled three main platforms, including a cross-border digital payment platform, a blockchain services platform, and a digital asset platform.

For his part, Tian Xuan, president of the National Institute of Financial Research at Tsinghua University, said the launch of the center represents an important step in the development of the digital renminbi.
"This will contribute to strengthening China's influence in the global financial system and provide an open, inclusive, and innovative Chinese solution to improve the global cross-border payments system," Tian added.