Lu Lei, deputy governor of the People’s Bank of China, said new-generation artificial intelligence technologies such as large models and AI agents are becoming important tools for improving financial services, while also introducing new risks including algorithmic black boxes and model hallucinations. He made the remarks at the China-ASEAN Forum on Financial Cooperation and Development during a speech on deepening AI cooperation between China and ASEAN in the financial sector. Lu said AI can learn and assess the underlying logic of human behavior, but humans still struggle to see through the internal decision-making process of these systems. He described this gap as an “asymmetry of understanding” between humans and artificial intelligence, and said it could create deeper challenges for the financial industry. His comments also pointed to the importance of security governance as AI adoption in finance expands. The remarks were reported by Financial Times.

PBOC Deputy Governor Lu Lei said at the 15th China Payment and Clearing Forum that agent-based payments must not blur responsibility boundaries among consumers, institutions, and algorithmic systems. He stressed that payment is a transfer of fund ownership and requires predictable outcomes, assignable responsibility, and traceable trails. With smart agents capable of initiating or assisting transactions, existing governance rules need updates. The PBOC has guided the industry to release a self-regulatory convention on agent payment applications and called for more work on underlying protocols and technical standards.

China’s central bank says Mbridge could improve cross-border payments by cutting friction without creating new barriers. The CBDC platform, now expanding participation, is increasingly seen as a potential force in reshaping settlement networks and the broader currency landscape.

Chinese central bank officials highlighted Mbridge as a CBDC-based platform designed to improve cross-border payments, expand access in underserved regions, and potentially reshape parts of the global financial order.

Lu Lei, deputy governor of the People's Bank of China, emphasized the need for careful coordination and legal alignment to avoid disrupting the international monetary system as the Mbridge CBDC platform expands. The platform targets underserved regions like ASEAN and may challenge the US dollar's supremacy.