The People's Bank of China (PBOC) stated that it supports provinces and municipalities along the Western Land-Sea New Corridor to participate in multilateral central bank digital currency bridge proje
PANews reported on December 25th that the People's Bank of China (PBOC) held a press conference to interpret the "Opinions on Financial Support for Accelerating the Construction of the Western Land-Sea New Corridor." At the conference, Wang Xin, Director of the Research Bureau of the PBOC, stated that the "Opinions" grasp the new trends in international cooperation such as digital finance and green finance, and innovatively drive high-level financial opening-up in the central and western regions. For example, it supports provinces and municipalities along the corridor to participate in multilateral central bank digital currency bridge projects, promoting the use of central bank digital currencies in cross-border payments; and supports strengthening cooperation based on the China-Singapore Green Finance Working Group mechanism in areas such as the formulation and application of green finance standards, green financial products, and financial support for green technologies.
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