Wang Yongli, former deputy governor of the Bank of China: We should pay more attention to the development of stablecoins

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Source: Beijing Business Daily

From May 17th to 18th, the 2025 Tsinghua PBC Global Financial Forum was held in Shenzhen. At the sub-forum with the theme of "2025 China Economic Outlook", Wang Yongli, former Deputy Governor of Bank of China and Co-Chairman of Digital China Information Services Group Co., Ltd., said that in the face of the increasingly complex international situation, China needs to do its own thing well and accelerate the development of domestic and international dual circulation. Among them, speeding up RMB cross-border payment and clearing is an important infrastructure and an important driving force.

At present, China has made many achievements in the development of RMB cross-border payment and clearing, including promoting the development of interbank payment and clearing, establishing China's own UnionPay organisation, establishing and developing the RMB Cross-border Payment System (CIPS), and increasing cooperation with Swift.

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