TechFlow news, September 13 — According to Jinshi Data, to promote and standardize the application of electronic documents, improve the digitalization level of goods trade and transportation, reduce logistics costs across society, protect the legitimate rights and interests of parties involved in electronic document activities, and safeguard national security and public interests, the Cyberspace Administration of China, together with relevant departments, has drafted the "Regulations on Promoting and Regulating the Application of Electronic Documents (Draft for Soliciting Opinions)" based on relevant laws and regulations. The draft is now open for public comment. It states that institutions and enterprises in sectors such as goods trade, logistics, and finance are encouraged to recognize and use electronic documents in their operations, enhancing the digitalization level of business applications and promoting industry quality improvement and efficiency gains.
Financial institutions are encouraged to explore using innovative payment methods such as digital RMB for cross-border payments according to the characteristics of electronic documents, under the premise of compliance with laws and regulations and controllable risks, and to steadily advance innovation in financial products and service models.
