State Council Calls for Launch of Digital Asset Exchange, More Digital Renminbi Trials in Beijing Municipal Administrative Centre

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The top authority of the Chinese government has called for the further development of the digital economy and fintech capabilities of the Beijing Municipal Administrative Centre.

China’s State Council recently issued the “Opinions on Supporting the High-quality Development of the Beijing Municipal Administrative Centre” (关于支持北京城市副中心高质量发展的意见).

The Opinions call for “accelerating the advance of statutory digital currency trials, effectively performing implementation work for fintech innovation regulatory tools, supporting large-scale banks and other parties in the lawful establishment of digital renminbi operators, and supporting qualified banks in participating in direct banking trials.”

The Opinions also call for “exploring the development of digital asset exchanges” in the national capital.

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