Wu said that central bank governor Pan Gongsheng stated at the 2025 Lujiazui Forum that new technologies are accelerating applications in the field of cross-border payment. New technologies such as blockchain and distributed ledger are driving the vigorous development of central bank digital currency stablecoins, reshaping the traditional payment system at the foundational level, significantly shortening the chain of cross-border payments, while also posing enormous challenges to financial regulation. Technologies such as smart contracts and decentralized finance will continue to promote the evolution and development of the cross-border payment system.