China Economic Times: Using offshore RMB stablecoins to promote RMB internationalization
According to online reports, China Economic Times issued an article saying that the development of offshore RMB stablecoins is an important starting point to accelerate the internationalization of the RMB and an important means to alleviate the uncertainty of the development of the "digital currency bridge" and will not affect the mainland's monetary policy regulation and cross-border capital management. Adopt a gradual model in the pace of development and gradually promote it from the Hong Kong region to the mainland free trade zone and free trade port, thereby continuously strengthening its supporting role for the internationalization of the RMB. Shen Jianguang, chief economist of Jingdong Group, and Zhu Taihui, senior research director of Jingdong Group, said that stablecoins and encrypted digital currencies have entered a rapid growth track. Especially since U.S. President Trump's second term, he has actively promoted the development of stablecoins and encrypted digital currencies in the United States, triggering a re-examination of the development of encrypted digital currencies, especially stablecoins, by countries around the world. For my country, the development of offshore RMB stablecoins is an important starting point to accelerate the internationalization of the RMB. It is also an important means to alleviate the impact of uncertainty in the development of the "digital currency bridge" and will not affect the mainland's monetary policy regulation and cross-border capital management. Adopt a gradual model in the pace of development. After accumulating experience and improving mechanisms in Hong Kong, we will gradually promote it from Hong Kong to the mainland free trade zone and free trade port in accordance with the model of "offshore first and then offshore domestically", thereby continuously strengthening the support for RMB internationalization.
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