The Governor of the People's Bank of China, Pan Gongsheng, stated at the 2025 Lujiazui Forum: New technologies are accelerating their application in the field of cross-border payments, and new technologies such as Blockchain and Distributed Ledger are driving the vigorous development of Central Bank Digital Money stablecoins, reshaping the traditional payment system from the ground up, significantly shortening the chain of cross-border payments, while also posing tremendous challenges to financial regulation. Technologies like smart contracts and Decentralized Finance will continue to promote the evolution and development of the cross-border payment system.

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