The Cyberspace Administration has issued a call for opinions: Encouraging financial institutions to explore the use of digital yuan and other new payment methods for cross-border payments.

Gate News bot report, in order to promote and regulate the application of electronic documents, improve the digitalization level of goods trade and transportation, drop the overall logistics costs of society, safeguard the legal rights and interests of parties involved in electronic document activities, and maintain national security and social public interests, according to relevant laws and regulations, the National Internet Information Office, in conjunction with relevant departments, has drafted the “Regulations on Promoting and Regulating the Application of Electronic Documents (Draft for Comments)” and is now publicly soliciting opinions from society. It mentions that institutions and enterprises in the fields of goods trade, logistics, finance, etc., are encouraged to recognize and use electronic documents in their business operations, enhance the digitalization level of business applications, and promote quality improvement and efficiency enhancement in the industry. Financial Institutions are encouraged to explore the use of new payment methods such as digital renminbi for cross-border payments based on the characteristics of electronic documents, under the premise of compliance with laws and regulations and controllable risks, actively and steadily carry out innovation in financial products and service models.