Central Bank of China: Support the promotion of innovative applications of digital yuan to relevant pilot free trade zones

Comparative news, according to Jin10 data reports, Ji Min, head of the Research Bureau of the People's Bank of China, said at the State Council's policy routine briefing on July 4 that in the next step, the People's Bank of China will continue to support the Pilot Free Trade Zone, together with relevant departments and other financial management departments, to further connect with international high-standard economic and trade rules and promote a higher level of institutional openness on the basis of effective risk prevention.

On the one hand, financial openness and innovation will be further deepened in the Shanghai Pilot Free Trade Zone. Not long ago, eight support policies were announced at the Lujiazui Forum, including developing free trade offshore bonds, optimizing and upgrading free trade account functions, and launching a comprehensive reform pilot for offshore trade finance services.

On the other hand, it is necessary to increase the replication and promotion of the “Shanghai Experience”, support the promotion of measures such as innovative application of digital yuan to relevant pilot free trade zones, promote measures such as optimizing electronic payment services to the whole country, explore practical paths for open innovation and development in China's financial sector, and accumulate more replicable and promoted experiences.