Guangdong free trade zone plan includes cross border digital yuan push

Guangdong has proposed expanding cross-border digital yuan payment pilots and other cross-border financial programs as part of a draft development plan for the China (Guangdong) Pilot Free Trade Zone. Summary Guangdong has proposed expanding cross border digital yuan payment pilots in its new free trade zone development plan. The draft also supports new cross border financial products, fintech trials and offshore finance initiatives. The proposal follows China’s first digital yuan cross border payment with Singapore through the upgraded CBETS platform. Public comments on the draft plan will be accepted until Sept. 5 before the policy is finalized. According to a draft of the China (Guangdong) Pilot Free Trade Zone 15th Five-Year Development Plan (2026–2030) released by the Guangdong Department of Commerce on Aug. 6 for public consultation, the province intends to enlarge financial opening measures while supporting more digital yuan use cases and expanding trials for cross-border e-CNY payments. The consultation document, which will remain open for public feedback until Sept. 5, also outlines plans to support offshore finance, green finance, cross-border wealth management, venture c...