11:39 - 19.06.2025

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June 19, Fineko/abc.az. The Governor of the People's Bank of China, Pan Gongsheng, announced at the Fujian Forum in Shanghai the establishment of an "international e‑CNY operations center" to expand the use of the digital yuan in the world.

ABC.AZ informs that he stressed that China is striving for a multipolar currency system, where the digital yuan will become one of the most significant currencies, reducing the dominance of the dollar.

The forum also reported that six foreign banks (including Standard Bank and First Abu Dhabi Bank) have agreed to connect to the Chinese interbank settlement system CIPS for yuan payments in trade, further expanding the international use of the Chinese currency.

This is a step towards creating an alternative to SWIFT and strengthening China's financial independence from geopolitical risks.