China expands pilot program for cross-border digital yuan transactions

China has expanded its pilot program for cross-border transactions using the digital yuan, enabling more cities and financial institutions to participate in testing the central bank’s digital currency for international trade and remittances. Authorities said the move is designed to reduce transaction costs, enhance payment efficiency, and support broader global use of the digital yuan as part of long-term financial innovation goals. Financial experts commented that while the expansion remains limited, it reflects China’s strategic interest in shaping future cross-border payment systems and reducing reliance on traditional global settlement networks.