Central Bank Advances Construction of Cross-Border RMB Payment System
By: rootdata|2026/08/02 09:02:00
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Prefer us on GoogleThe People's Bank of China held a work meeting for the second half of 2026, emphasizing the deepening of financial reform and opening up to the outside world. The meeting proposed actively carrying out currency swap and local currency settlement cooperation between central banks, supporting overseas institutions to participate in the issuance of panda bonds, developing the offshore RMB market, enhancing Shanghai's cross-border financial service capabilities, and consolidating Hong Kong's position as a hub for offshore RMB business. At the same time, it aims to deepen the facilitation reform of cross-border trade and investment financing, promote the construction of the cross-border RMB payment system, enhance international cooperation in cross-border payments, and improve the infrastructure for cross-border digital RMB.
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