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.
