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Central Bank: Increase efforts to replicate and promote the "Shanghai Experience," supporting the innovative application and promotion of the digital RMB in related pilot free trade zones.
BlockBeats News, July 4th. Ji Min, head of the Research Bureau of the People's Bank of China, stated at the State Council's routine policy briefing on July 4th that next, the People's Bank of China will continue to work with relevant departments and other financial regulatory authorities to further support the Free Trade Zone in deepening its integration with international high-standard economic and trade rules and promoting a higher level of institutional opening-up while effectively preventing risks. On one hand, further deepen financial opening and innovation in the Shanghai Free Trade Zone.
Recently, eight support policies were announced at the Lujiazui Forum, including developing offshore trade finance, optimizing and upgrading the functions of the free trade account, and conducting a pilot comprehensive reform of offshore trade finance services. On the other hand, efforts will be made to replicate and promote the "Shanghai Experience," support the innovative application of the digital RMB in related free trade zones, and promote measures such as optimizing electronic payment services nationwide, exploring and practicing the path of open and innovative development in the field of finance in China, and accumulating more replicable and scalable experiences. (China.com)
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