BEIJING, Oct. 27 (Xinhua) -- China's central bank will further refine the management system of the digital yuan and explore its role within the country's broader monetary framework, Pan Gongsheng, governor of the People's Bank of China (PBOC), said at the Annual Conference of Financial Street Forum 2025 on Monday.
The central bank will support more commercial banks to become authorized operators of digital yuan services, Pan said.
He noted that the PBOC has established a digital yuan international operations center in Shanghai to oversee cross-border cooperation and usage, as well as a digital yuan operations and management center in Beijing, which is responsible for system development, operations and maintenance to promote the currency's broader application.
On domestic virtual currency trading and speculation, Pan said that the PBOC, together with relevant authorities, has since 2017 issued a series of policy documents to prevent and address related risks. "These policies remain in effect," he said.
The PBOC will continue working with law enforcement authorities to crack down on domestic virtual currency trading and speculation activities, thereby maintaining economic and financial order, he said.
"The central bank will closely monitor and dynamically assess the development of overseas stablecoins," he added.
A single purchase
