Pan Gongsheng, Governor of the People's Bank of China, announced plans to expand the international use of the digital yuan and develop a multi-polar currency system.
Expansion of Digital Yuan Usage
Pan Gongsheng announced at the Lujiazui Forum the establishment of an international operation center for the digital yuan (e-CNY) in Shanghai, reaffirming the central bank's vision for CBDCs.
Multi-Polar Currency System
The Governor highlighted that traditional cross-border payment systems are vulnerable to geopolitical risks and proposed a multi-polar international monetary system to enhance global financial stability.
Attracting Foreign Investors to China
Zhu Hexin, head of the State Administration of Foreign Exchange, assured protection of the yuan from external risks. China aims to make its financial market more accessible to foreign investors.
China is actively working to expand the digital yuan and create a stable financial environment for foreign investors, indicating its ambition for financial independence.
