The People's Bank of China, along with several national regulatory bodies and the Shanghai Municipal Government, has announced plans to develop cross-border and offshore blockchain infrastructure for the digital RMB. This initiative, outlined in the newly issued *Action Plan for Developing Offshore Finance in the Shanghai International Financial Center*, aims to ensure secure and controllable operations.
The plan emphasizes the construction and operation of digital RMB infrastructure, focusing on international connectivity and the expansion of its use in offshore business. The initiative seeks to prudently advance interconnection with overseas financial systems, promoting the digital RMB's application in global markets.
China to Develop Cross-Border Blockchain Infrastructure for Digital RMB
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