Lu Lei, Vice Governor of the People's Bank of China: The digital yuan will explore new models for cross-border payments.

In his address at the Hong Kong Fintech Week Startup Festival, Lu Lei, Vice Governor of the People's Bank of China, stated that the bank will continue to expand the Cross-border Interbank Payment System (CIPS) business in Hong Kong, leveraging the digital RMB cross-border payment platform to provide a Chinese solution for central bank digital currency cross-border payment cooperation; and will build a dual platform of blockchain and digital assets to activate a new engine for the value internet.