The Shanghai headquarters of the central bank focuses on the application of digital renminbi and promotes financial reform and innovation

According to reports from Hashi Chain, the Shanghai headquarters of the People's Bank of China held a work meeting on August 19 to deploy tasks for accelerating financial reform and innovation in the second half of the year. The meeting pointed out the need to steadily advance the application of digital renminbi, deepen the high-level opening up pilot for cross-border trade, expand the cross-border use of renminbi, and pilot new scenarios for offshore international trade background verification. At the same time, it will continue to improve corporate exchange rate risk management services, promote financial measures to boost consumption, and strengthen financial risk prevention and control mechanisms. The meeting emphasized enhancing the effectiveness of financial stability duties through technological empowerment, providing strong support for accelerating the construction of a financial powerhouse and promoting Chinese-style modernization.