June 17 — Wang Xin, director of the PBOC Research Bureau, told the Lujiazui Forum plenary session II that China needs to further safeguard the safety, neutrality and efficiency of the international payments system, strengthen interoperability between

2026-06-17

June 17 — Wang Xin, director of the PBOC Research Bureau, told the Lujiazui Forum plenary session II that China needs to further safeguard the safety, neutrality and efficiency of the international payments system, strengthen interoperability between central bank payment systems and retail payment rails, and prudently explore the potential of new payment tools. He said regulators will closely monitor stablecoins' effects on the international monetary system and cross-border payments, refine regulatory frameworks, and promote more inclusive, efficient and resilient cross-border payments to better support sustainable development and global growth.