<ul data-eligibleForWebStory="true"><li>The People’s Bank of China announced the launch of an international hub for the e-CNY in Shanghai to boost the digital yuan's global influence.</li><li>The decision was part of a set of eight financial policy measures unveiled at the Lujiazui Forum, aiming to strengthen the yuan's international presence.</li><li>The e-CNY project started in 2019 and is seen as an advanced central bank digital currency initiative, although user adoption, especially for cross-border usage, has been sluggish.</li><li>Pan Gongsheng highlighted the impact of blockchain technology on global payment systems and emphasized the role of stablecoins and CBDCs in reshaping cross-border settlements.</li><li>The new center in Shanghai will serve as a focal point for international collaboration, aligning policies, and integrating technology for the digital yuan.</li><li>China's initiative comes amidst increasing competition from other national digital currencies and global stablecoins, showcasing its determination to lead in the evolving financial landscape.</li></ul>

China to Launch e-CNY International Hub in Shanghai, Eyes Global Reach

Discover more