COINOTAG News reported that the People’s Bank of China and eight other departments unveiled Opinions on Financial Support to Accelerate the Western Land-Sea New Channel project. The directive underscores digital finance as a strategic lever for regional integration.
Provincial and municipal authorities along the corridor are encouraged to engage in multilateral CBDC bridge initiatives, enabling accelerated cross-border settlements and enhanced monetary interoperability.
The document mentions pilots for cross-border RMB digital payments with Thailand, Hong Kong, the UAE, Saudi Arabia, and others, signaling a measured push toward digital monetary infrastructure while ensuring risk controls.
Additionally, the plan contemplates cross-border e-commerce platforms connecting with Singapore and other markets to bolster trade digitalization and service capabilities.
Source: https://en.coinotag.com/breakingnews/pboc-and-eight-departments-promote-rmb-cross-border-digital-payments-and-cbdc-bridges-along-the-western-land-sea-new-channel
