Bank of China Shanghai completes first cross-border digital RMB capital account business in Singapore

Under the guidance of the Shanghai headquarters of the People's Bank of China, the Shanghai Branch of the Bank of China completed a transfer of corporate dividends to Singapore through digital RMB remittance, successfully landing the first cross-border digital RMB capital account business between China and Singapore. The Shanghai Branch of the Bank of China actively assisted the digital RMB pilot work: cooperated with the Shanghai Gold Exchange to complete the cross-border settlement of 100 million yuan in digital RMB for precious metal transactions, landing the first cross-border digital RMB payment in the financial factor market; paid the imported iron ore costs for Baowu Group through digital RMB, achieving a breakthrough in cross-border digital RMB payment in the commodity field; during the 7th CIIE, it joined hands with Shanghai Public Transport Card Co., Ltd. to hold a "Digital Intelligence Card" product launch conference in the CIIE venue, and continued to expand the application of digital RMB in multiple scenarios. (Xinmin Evening News)