Shanghai’s new e-CNY hub marks China’s subtle play for global monetary influence

Description

Shanghai’s new e-CNY operations center is China’s answer to the stablecoin-led disruption of cross-border finance, signaling that the digital yuan isn’t just for domestic trials anymore, but for an open audition on the global economic stage. On June 18, People’s Bank of China Governor Pan Gongsheng took the stage at Shanghai’s Lujiazui Forum to unveil what may become the digital yuan’s most consequential maneuver yet. Among eight sweeping reforms, the establishment of an e-CNY international oper...