Central Bank: Researching the Promotion of Digital Renminbi in Cross-Border Payments

The People's Bank of China released the "2025 Renminbi Internationalization Report," which details the current process of Renminbi internationalization and the next steps in planning. The report points out that currently, five central banks (monetary authorities), including the People's Bank of China, have officially joined the multilateral central bank digital currency bridge.

In the trend outlook section, the People's Bank of China stated that it will build a self-controlled Renminbi cross-border payment system and study the promotion of the use of digital Renminbi in cross-border payments.