China Economic Times: Using Offshore Renminbi Stablecoin to Promote Renminbi Internationalization

GateUser-6433627c · 2025-06-11T10:21:49+00:00

[China Economic Times: Promoting RMB Internationalization with Offshore RMB Stablecoins] China Economic Times reported that developing offshore RMB stablecoins is an important lever to accelerate RMB internationalization and a significant means to mitigate the uncertain impacts of the "Digital Money Bridge" development, without affecting the monetary policy regulation and cross-border capital management in the mainland. The development will adopt a gradual approach, starting from the Hong Kong region and progressively promoting to the mainland free trade zones and free trade ports, thereby continually strengthening the support for RMB internationalization.Jingdong Group's Chief Economist Shen Jianguang and Senior Research Director Zhu Taihui stated that stablecoins and crypto digital money have entered a rapid growth track. Especially since the second term of U.S. President Trump, there has been an active promotion of the development of U.S. stablecoins and crypto digital money, which has triggered a re-examination of the development of crypto digital money, especially stablecoins, by countries around the world. For our country, developing offshore RMB stablecoins is crucial for accelerating the internationalization of the RMB.

GateUser-6433627c

2025-06-11 10:21:49

China Economic Times issued an article saying that the development of offshore RMB stablecoins is an important starting point for accelerating the internationalization of RMB, and it is also an important means to alleviate the impact of uncertainty in the development of the “digital currency bridge”, and will not affect the mainland’s monetary policy regulation and cross-border capital management. In terms of the pace of development, we will adopt a gradual model, gradually promoting from Hong Kong to the Mainland Free Trade Zone and Free Trade Port, so as to continuously strengthen the supporting role of RMB internationalization. Shen Jianguang, chief economist of JD.com, and Zhu Taihui, senior research director of JD.com, said that stablecoins and encrypted digital currencies have entered a rapid growth track. In particular, since the second term of US President Trump, he has actively promoted the development of US stablecoins and cryptocurrencies, which has triggered countries around the world to re-examine the development of cryptocurrencies, especially stablecoins. For China, the development of offshore RMB stablecoin is an important starting point for accelerating the internationalization of RMB, and it is also an important means to alleviate the impact of uncertainty on the development of the “digital currency bridge”, and will not affect the mainland’s monetary policy regulation and cross-border capital management. After accumulating experience and improving the mechanism in Hong Kong, it will gradually promote from Hong Kong to the mainland free trade zones and free trade ports in accordance with the model of “offshore first and then onshore offshore”, so as to continuously strengthen the supporting role of RMB internationalization.

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