The Cyberspace Administration of the People's Republic of China has publicly solicited opinions: Encourage Financial Institution Groups to explore the use of new payment methods such as digital RMB to carry out cross-border transfers

The Cyberspace Administration of China, together with relevant departments, has drafted the "Regulations on Promoting and Regulating the Application of Electronic Documents (Exposure Draft) ", which is now open to the public for comments. It is mentioned that institutions and enterprises in the fields of trade in goods, logistics, finance, etc. are encouraged to recognize and use electronic documents when conducting business, improve the digital level of business applications, and promote industry quality and efficiency. Financial Institution Groups are encouraged to explore the use of digital RMB and other new payment methods to carry out cross-border transfer under the premise of legal compliance and controlled risks, and to actively and steadily carry out innovation in financial products and service models.