TechFlow, December 24 — According to Jinshi Data, eight departments including the People's Bank of China issued the "Opinions on Financial Support for Accelerating the Construction of the Western Land-Sea New Corridor." The document proposes exploring international cooperation in digital finance. It supports provincial-level regions along the corridor in participating in the multilateral central bank digital currency bridge project and promoting cross-border payments using central bank digital currencies with Thailand, Hong Kong, the United Arab Emirates, and Saudi Arabia. It also supports pilot programs for cross-border digital RMB payments between mainland China and Singapore. Additionally, it encourages eligible provincial-level regions along the corridor to build cross-border e-commerce digital service platforms and connect with cross-border e-commerce and trade digital platform companies in countries such as Singapore to enhance cross-border e-commerce service capabilities.
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