"Bank of China Cross-border E-commerce B2B Digital RMB Application Solution" released
November 27th, 2023

The Digital Currency Office of the Bank of China Head Office released the "Bank of China Cross-border E-commerce B2B Digital RMB Application Solution." The solution explores and improves the cross-border payment experience through digital renminbi, and provides cross-border trade participants with comprehensive services such as cross-border capital circulation, Chinagoods order information matching, and foreign exchange compliance. By building an umbrella wallet structure, it achieves "horizontal connectivity at home and abroad. , vertically supporting the entire system.” At present, this model has been successfully implemented among some customers of Yiwu Commodity City.

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