On September 24, a promotion conference for the business platforms of the e-CNY International Operation Center was held in Shanghai. The event introduced the e-CNY Cross-Border Digital Payment Platform, the e-CNY Blockchain Service Platform, and the Digital Asset Platform (hereinafter collectively referred to as “business platforms”) to relevant institutions, marking the official launch of the e-CNY International Operation Center. Lu Lei, Deputy Governor of the People's Bank of China (PBOC), and Wu Wei, Executive Vice Mayor of Shanghai Municipal Government, attended and delivered speeches.
Deputy Governor Lu Lei stated that the upgrading and evolving of the monetary and payment systems in the digital era is a historical inevitability. The PBOC is committed to providing open, inclusive, and innovative solutions to improve the global cross-border payment system. The principles of "no disruption, compliance, and interoperability" proposed by the PBOC have become basic guidelines for the construction of cross-border infrastructure for central bank digital currencies, and a cross-border financial infrastructure system for e-CNY has taken initial shape. Meanwhile, the PBOC has been exploring innovations in asset digitization which are conducive to enhancing regulatory efficiency and penetrative capability, and it will improve settlement transparency and the intelligence level of flow of value. The launch of the business platforms in Shanghai is not only a concrete measure to facilitate cross-border payments, but also aligns with the core functions of Shanghai as an international financial center. Moving forward, the PBOC will continue to support the steady and long-term development of the e-CNY International Operation Center, making substantial contribution to facilitating cross-border trade, investment, and financing.
Executive Vice Mayor Wu Wei expressed that the establishment of the e-CNY International Operation Center and its business platforms in Shanghai will inject strong momentum into the building of Shanghai as an international financial center. All relevant departments in Shanghai should fully leverage the business platforms to continuously broaden the application and expand the usage of e-CNY, thereby further facilitating RMB Internationalization. He hopes that the e-CNY International Operation Center will persistently strengthen technological innovation and application, and improve the security, stability, and ease-of-use of the business platforms, thereby providing a solid technical foundation for deepening the integration of finance and the real economy.
The e-CNY International Operation Center was established and is managed by the Digital Currency Institute of the PBOC. It is responsible for constructing and operating the cross-border and blockchain infrastructure for e-CNY, promoting cross-border interconnectivity between domestic and overseas financial infrastructures, advancing the international operation and financial market development related to e-CNY, and serving digital financial innovation.
The conference was attended by officials from relevant departments of the PBOC and the State Administration of Foreign Exchange, the PBOC Shanghai Head Office and PBOC-related institutions, the Shanghai Municipal Government and relevant departments, and representatives from e-CNY business operating institutions, some Chinese and foreign financial institutions and participating enterprises in Shanghai.
