The People's Bank of China and seven other departments: Support exploring and promoting cross-border digital RMB pilot programs between the mainland and Singapore

2025-12-24 07:40:09

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On December 24, the People’s Bank of China and seven other departments issued the “Opinions on Financial Support for Accelerating the Construction of the Western Land-Sea New Corridor.” The “Opinions” propose exploring international digital financial cooperation. Support provinces (autonomous regions, municipalities) along the route to participate in multilateral central bank digital currency bridge projects, promote the use of central bank digital currencies in cross-border payments with Thailand, Hong Kong, the United Arab Emirates, Saudi Arabia, and other countries. Support exploring and advancing cross-border RMB digital currency pilot programs between the mainland and Singapore. Support provinces (autonomous regions, municipalities) along the route with conditions to build cross-border e-commerce digital service platforms, connect with cross-border e-commerce and trade digital platform companies in countries like Singapore, and enhance cross-border e-commerce service capabilities. (Jinshi)

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