ChainCatcher reported that the People’s Bank of China, the National Development and Reform Commission, the National Financial Regulatory Administration, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and the Shanghai Municipal People’s Government have issued the Action Plan for Developing Offshore Finance at the Shanghai International Financial Center. The document includes arrangements connected to offshore finance development in Shanghai and refers specifically to digital yuan infrastructure for cross-border and offshore use.
Digital Yuan International Operations Center Named in the Plan
According to the plan, authorities will rely on the Digital Yuan International Operations Center to build and operate digital yuan cross-border, offshore and blockchain infrastructure under the premise of safety and controllability. The document also states that connectivity with overseas financial infrastructure will be advanced in a prudent manner, placing digital yuan infrastructure within the broader framework of offshore financial business arrangements.
On the application side, the plan calls for steadily promoting the use of the digital yuan in offshore business and expanding related scenarios. The cited provisions identify the Digital Yuan International Operations Center, cross-border and offshore infrastructure, blockchain infrastructure, and connectivity with overseas financial infrastructure as the main digital-yuan-related elements in the action plan.