The Central Bank of China has officially established the international operation center for the digital RMB, launching three major platforms!

In the wave of accelerating digital transformation of the global financial system, China has taken a milestone step in its layout of sovereign digital currency (CBDC). On September 24, 2025, the People's Bank of China (PBOC) officially unveiled the "International Operation Center" for its digital renminbi (e-CNY) in Shanghai, an international financial hub. This move is not only a key measure for China to promote the international application of digital renminbi from domestic pilot programs but is also seen as a significant strategic deployment in its quest for greater discourse power in the global payment system, challenging the existing landscape.

Behind this action is a clear top-level design and coherent policy advancement. The newly established Shanghai Operations Center will take on the important responsibility of promoting the internationalization of Digital Money, developing financial market services, and supporting digital financial innovation. Its core business will revolve around three major platforms, indicating that China is attempting to build an efficient and controllable future financial infrastructure.

From blueprint to implementation

The establishment of the Shanghai International Operations Center is not a sudden idea, but the inevitable result of a series of well-considered layouts by the Chinese government. Looking back at the dynamics of the past few months, a clear policy trajectory emerges: Policy Direction (June): At the "2025 Lujiazui Forum" in June, Pan Gongsheng, the Governor of the People's Bank of China, first proposed eight major measures to promote the development of the digital yuan, which clearly included "establishing an operational center for the digital yuan in Shanghai." He placed this initiative under the grand vision of building a "multipolar" global currency system, implying that the digital yuan will play an important role in the global economy. Public Opinion Preceding (Late June): The official media "Securities Times" followed up with an article, unusually calling for China to "quickly" develop a stablecoin pegged to the yuan to pave the way for its application in cross-border payments and international trade. High-Level Discussions (July-August): The State-owned Assets Supervision and Administration Commission of the State Council held a special meeting in Shanghai to deeply discuss the strategies for digital currency and stablecoins. Subsequently, foreign media outlet "Reuters" disclosed that the Chinese government is actively considering authorizing the issuance of a stablecoin based on the yuan, with the core goal aimed at expanding the global circulation of the yuan and reducing reliance on the dollar system. Official Implementation (September): With the official launch of the Shanghai International Operational Center, all prior policy signals and discussions converge into substantial actions.

This series of compact actions indicates that China is methodically accelerating the internationalization process of its Digital Money from policy declarations, public opinion guidance to concrete implementation at various levels. Tian Xuan, director of the National Institute of Financial Research at Tsinghua University, commented that the launch of this center is an important step in the development of the digital renminbi, providing an open, inclusive, and innovative "Chinese solution" for improving the global cross-border payment system.

Focus on the three major platforms

According to official disclosures, the newly established Shanghai Operations Center will simultaneously launch three core platforms, which together form the blueprint for China's new digital financial infrastructure.

Cross-border digital payment platform: This is the core function of the entire center. Its goal is to leverage the technological advantages of digital RMB to significantly improve the settlement efficiency of cross-border transactions and reduce transaction costs. The deeper strategic intention is to provide an alternative solution to the traditional SWIFT system for international trade and investment, thereby alleviating dependence on the US dollar payment system, especially promoting the use of RMB in countries along the "Belt and Road" initiative.

Blockchain service platform: This platform will serve as a technical foundation to support various applications of Digital Money, especially in complex scenarios involving smart contracts. This means that Digital Money is not just a digital replacement for cash but also a programmable financial tool capable of supporting richer business applications and financial innovations.

Digital Asset Platform: The establishment of this platform is particularly noteworthy. It aims to provide an official, regulated operational environment for the digitalization of physical assets. Interestingly, just earlier this week, China's securities regulatory agency had just "halted" certain brokerages' "real world asset (RWA) tokenization" business in Hong Kong. The sharp contrast between these events strongly suggests that China is not opposed to the trend of asset tokenization itself, but rather hopes to incorporate it into a state-led and controlled framework, rather than allowing it to grow wildly in a decentralized and unregulated environment.

Reshaping the digital financial landscape

It is worth noting that while China is vigorously promoting its sovereign digital currency, it has not relaxed its strict regulation of private cryptocurrencies. From the comprehensive ban on cryptocurrency trading in 2021 to the recent "braking" on RWA business, China's stance is very clear: it resolutely combats any decentralized digital assets that may threaten its financial stability and capital controls.

This dual-track strategy of "suppressing with one hand while supporting with the other" clearly reveals China's digital finance philosophy: to embrace the efficiency and innovation brought by blockchain technology, but on the condition that this technology must serve national strategies and remain within an absolutely controllable range. The digital RMB is a perfect embodiment of this philosophy. It utilizes certain technological concepts of blockchain, yet it is a centralized system completely controlled by the central bank, aiming to strengthen rather than undermine the nation's monetary sovereignty.

In summary, the establishment of the Shanghai Digital Renminbi International Operations Center is not merely a simple upgrade of technical facilities; it is a profound strategic move. It signifies that China is attempting to transition from being a follower in the global digital finance landscape to becoming a rule-maker and leader. By creating a set of autonomous and controllable digital payment and asset infrastructure, China aims not only to promote the internationalization of the Renminbi and challenge the dominance of the US dollar, but also to secure a high ground in the future competition of the global digital economy that cannot be easily "choked off." The world is closely watching how this state-led financial transformation will evolve and what far-reaching impact it will have on the global financial landscape.

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