China plan bolsters cross-border payments, digital yuan

The plan, to be implemented during the 2021-2025 period, was published by four government agencies including China's central bank.

A sign indicating digital yuan, also referred to as e-CNY, is pictured at a shopping mall in Shanghai, China

China will strengthen its cross-border yuan payments system and explore setting up infrastructure standards for a digital fiat currency as part of a five-year plan for financial standardisation.

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The plan, to be implemented during the 2021-2025 period, was published by four government agencies including China's central bank and the securities watchdog on Tuesday, but was dated November 25, 2021.