Many people are concerned—eight departments jointly issued an (opinion) clearly stating the need for international cooperation in digital finance.

The core is just one sentence: first, run cross-border payments using central bank digital currency (CBDC), and then gradually expand.


There are several key actions:


Participate in the multilateral central bank digital currency bridge (mBridge) and conduct cross-border payment tests with places like Thailand, Hong Kong, the UAE, and Saudi Arabia.

Promote the digital RMB cross-border payment pilot between the mainland and Singapore.


Build a cross-border e-commerce digital service platform to connect with trade digitalization platforms in countries like Singapore and enhance service capabilities.


You will find that the key phrase is "first pilot, then expand." The meaning is clear—first, in compliant scenarios, smooth out the chain of cross-border receipt and payment, clearing, and settlement, refine the rules, risk control, and account system, and then gradually allow more people and scenarios to enter.


The foundation is also being laid: Shanghai has established an international operating center for digital renminbi, launching three major platforms—cross-border digital payment platform, blockchain service platform, and digital asset platform. The emphasized principles are three words: no loss, compliance, interconnectivity. The goal is straightforward: to make cross-border payments faster, more transparent, and connected with domestic and foreign financial infrastructures.


Then the question arises—can digital renminbi be directly used to buy and sell on exchanges (CEX)?


First, clarify the boundaries. The cross-border payment mentioned this time refers to the compliant closed loop of fiat/CBDC settlement between the banking system and licensed clearing institutions, belonging to the compliance closed loop of "payment—clearing—settlement," which is not the same as directly buying coins.


Currently, there is no publicly open "direct trading exchange for digital renminbi" channel. You still have to go through a bank or licensed payment institutions for inbound and outbound funds at the exchange, completing KYC/anti-money laundering/foreign exchange compliance processes, and then making exchanges and transfers between fiat and digital assets.


The realistic path is more likely to be that cross-border settlements are first completed using digital renminbi between banks, and then exchanges connect with domestic settlement banks, incorporating "inbound/outbound" into the existing compliance process. This process takes time and will initially be tested with institutions and large-scale scenarios before gradually expanding to ordinary users.


Impact on different people


For those engaged in foreign trade and cross-border business: pay close attention to the cross-border renminbi settlement facilitation in your province and the mBridge pilot window, and start discussing access plans with your bank, striving to run the closed loop of "digital renminbi receipt and payment—clearing—settlement" in real trade.

For investors: do not confuse "cross-border payment" with "trading on exchanges." There will not be an open public direct connection channel in the short term; if you want to improve the efficiency of inbound and outbound funds, the key is to choose a compliant platform with effective risk control, and ensure that your bank account has complete cross-border receipt and payment qualifications.


Finally, a reminder: cross-border capital flows are subject to foreign exchange and anti-money laundering regulatory constraints. The cross-border application of digital renminbi is still in the pilot evolution stage, and the participants, scenarios, and limits will gradually be liberalized according to regulatory requirements.


Don't rush to fantasize about a direct connection to the exchange; first, understand the policies and the chain, and only then will opportunities fall into your hands.#ETH走势分析