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PBOC: Accelerated Construction of Cross-border RMB Payment System to Advance Cross-border Payment Connectivity
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The People's Bank of China (PBOC) recently held the 2026 Payment and Settlement Work Conference requiring that payment and settlement efforts in 2026 should closely adhere to the objectives of the 15th Five-Year Plan and the goal of building a financial great power. This includes accelerating the establishment of a cross-border RMB payment system, promoting cross-border payment connectivity, and fostering a diversified and multi-tiered cross-border payment ecosystem. Through strict implementation of penetrative supervision of payment institutions and functional oversight of payment services, the complementary roles of administrative and self-regulatory mechanisms should be fully leveraged to create a compliant, sustainable and healthy industry ecosystem. AASTOCKS Financial News Website: www.aastocks.com |
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