China Outlines Digital RMB Strategy for Western Land-Sea New Corridor on December 24

On December 24, the People’s Bank of China and seven other departments released opinions to expand digital finance cooperation and RMB use in cross-border payments along the Western Land-Sea New Corridor. The plan centers on testing the digital RMB in trade and payment scenarios with partners such as Singapore, Thailand, Hong Kong, and the UAE, while also building digital platforms for cross-border e-commerce.