Central Bank: Establish a digital renminbi international operation center

On June 18, according to CCTV news, at the 2025 Lujiazui Forum, Pan Gongsheng, the Governor of the People’s Bank of China, announced the establishment of an international operation center for digital renminbi. This aims to promote the international operation and development of financial market businesses for digital renminbi and to serve digital financial innovation. A personal credit reporting agency will be established. This will provide diversified and differentiated personal credit products for financial institutions, further improving the social credit system. A comprehensive reform pilot for offshore trade financial services will be carried out in the new area of Lingang, Shanghai. Innovative business rules will support Shanghai’s development of offshore trade. Development of free trade offshore bonds will follow the principle of ‘two ends abroad’ and international rules and standards, broadening financing channels for ‘going out’ enterprises and high-quality enterprises from countries and regions participating in the ‘Belt and Road’ initiative.