Central Bank and Eight Other Departments: Support Exploring and Promoting Mainland China-Singapore Cross-Border Digital Currency Pilot

BlockBeats News, December 24th, the People's Bank of China and eight other departments issued the "Opinions on Financial Support to Accelerate the Construction of the Western Land-Sea New Channel." The "Opinions" propose exploring international cooperation in digital finance.

Support provinces (regions, cities) along the route to participate in multilateral central bank digital currency bridge projects, promote the use of central bank digital currency for cross-border payments with Thailand, Hong Kong, the UAE, Saudi Arabia, and other countries. Support exploring the pilot of cross-border RMB digital payments between the mainland and Singapore. Support eligible provinces (regions, cities) along the route in building cross-border e-commerce digital service platforms, connecting with cross-border e-commerce and trade digital platforms in countries like Singapore to enhance cross-border e-commerce service capabilities. (Golden Finance)