PBOC and Eight Departments Promote RMB Cross-Border Digital Payments and CBDC Bridges Along the Western Land-Sea New Channel

COINOTAG News reported that the People’s Bank of China and eight other departments unveiled Opinions on Financial Support to Accelerate the Western Land-Sea New Channel project. The directive underscores digital finance as a strategic lever for regional integration.

Provincial and municipal authorities along the corridor are encouraged to engage in multilateral CBDC bridge initiatives, enabling accelerated cross-border settlements and enhanced monetary interoperability.

The document mentions pilots for cross-border RMB digital payments with Thailand, Hong Kong, the UAE, Saudi Arabia, and others, signaling a measured push toward digital monetary infrastructure while ensuring risk controls.

Additionally, the plan contemplates cross-border e-commerce platforms connecting with Singapore and other markets to bolster trade digitalization and service capabilities.