Recently, the People's Bank of China, in conjunction with seven ministries including the National Development and Reform Commission and the Ministry of Commerce, issued a document on financial support for the construction of the New International Land-Sea Trade Corridor, which explicitly proposed "supporting the exploration and advancement of a cross-border digital yuan payment pilot between the Chinese mainland and Singapore." On December 24, Bank of China successfully completed an overseas digital yuan top-up test in Singapore, taking concrete action to deepen and solidify innovation in cross-border payments.

Starting from January 2026, Bank of China will invite local customers to participate in a trial experience. At that time, Singapore residents will be able to use a local mobile number to register for a digital yuan wallet and conveniently top it up via the Bank of China mobile banking app. This will allow them to use the digital yuan for offline consumption and payments during scenarios such as travel or business trips to China.

The digital yuan project is one of the six financial cooperation outcomes achieved at the 21st meeting of the Joint Council for Bilateral Cooperation (JCBC) between China and Singapore. As one of the first authorized operating institutions, Bank of China is leveraging its global advantages to commit to building a more convenient, efficient, and secure cross-border payment ecosystem, injecting strong momentum into the financial connectivity between the two nations.

Bank of China will actively explore new scenarios for the international use of the renminbi and continuously optimize its financial product services and innovation, aiming to contribute significantly to the ongoing deepening of economic and trade cooperation between China and Singapore.