China plan bolsters cross-border payments, digital yuan

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Updated: Feb 8, 2022, 10:07 UTC

SHANGHAI (Reuters) - China will strengthen its cross-border yuan payments system and explore setting up infrastructure standards for a digital fiat currency as part of a five-year plan for financial standardization.

A sign indicating digital yuan, also referred to as e-CNY, is pictured at a shopping mall in Shanghai

SHANGHAI (Reuters) – China will strengthen its cross-border yuan payments system and explore setting up infrastructure standards for a digital fiat currency as part of a five-year plan for financial standardization.

The plan, to be implemented during the 2021-2025 period, was published by four government agencies including China’s central bank and the securities watchdog on Tuesday, but was dated Nov. 25, 2021.

(Reporting by Shanghai Newsroom; Editing by Frank Jack Daniel)

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