*Breaking News*

The People's Bank of China suddenly announced that the digital renminbi (Renminbi, Chinese Yuan) cross-border settlement system will fully connect with the ten ASEAN countries and six Middle Eastern countries, meaning that 38% of global trade volume will bypass the dollar-dominated SWIFT system and directly enter the 'digital renminbi era'. This financial game, referred to by The Economist as the 'forefront of Bretton Woods System 2.0', is rewriting the underlying code of the global economy with blockchain technology.

While the SWIFT system struggles with a 3-5 day delay for cross-border payments, the digital currency bridge developed by China compresses the clearing speed to 7 seconds. In the first test between Hong Kong and Abu Dhabi, a company paid a Middle Eastern supplier using the digital renminbi, with funds no longer going through six intermediary banks but arriving in real-time via a distributed ledger, reducing transaction fees by 98%. This 'lightning payment' capability makes the traditional dollar-dominated clearing system appear cumbersome.

What further terrifies the West is the technological moat of China's digital currency. The blockchain technology used in the digital renminbi not only allows for traceable transactions but also automatically enforces anti-money laundering rules. In the China-Indonesia 'Two Countries, Twin Parks' project, Industrial Bank completed its first cross-border payment using the digital renminbi, taking only 8 seconds from order confirmation to fund arrival, achieving a 100-fold increase in efficiency over traditional methods. This technological advantage has encouraged 23 central banks globally to actively participate in digital currency bridge testing, with Middle Eastern energy traders already reducing settlement costs by 75%.

The deep impact of this technological revolution lies in the reconstruction of financial sovereignty. When the U.S. attempted to sanction Iran using SWIFT, China had already built a closed loop for renminbi payments in Southeast Asia. Data shows that by 2024, the cross-border renminbi settlement volume in ASEAN countries will exceed 5.8 trillion yuan, an increase of 120% compared to 2021. Six countries, including Malaysia and Singapore, have incorporated the renminbi into their foreign exchange reserves, and Thailand has completed its first oil settlement in digital renminbi. This wave of 'dedollarization' has led the Bank for International Settlements to exclaim: 'China is defining the rules of the game in the digital currency era.'

But what truly shocks the world is China's strategic layout. The digital renminbi is not just a payment tool; it is also a technological carrier of the 'Belt and Road' strategy. In projects such as the China-Laos Railway and the Jakarta-Bandung High-Speed Railway, the digital renminbi is deeply integrated with Beidou navigation and quantum communication, jointly building the 'Digital Silk Road'. When European automotive companies settle freight using the digital renminbi through the Arctic route, China is leveraging blockchain technology to enhance trade efficiency by 400%. This combination of virtual and physical strategies has made the dollar's hegemony feel a systemic threat for the first time.

Today, 87% of countries worldwide have completed the adaptation of the digital renminbi system, with cross-border payment volume exceeding $1.2 trillion. While the U.S. is still debating whether digital currencies threaten the dollar's status, China has quietly built a digital payment network covering 200 countries. This silent financial revolution not only concerns monetary sovereignty but also determines who will control the lifeblood of the future global economy!

👉 *This is a significant news, indicating large-scale dedollarization, which can completely reset the world*