The People's Bank of China and eight other departments announced plans to promote the cross-border application of the digital yuan and explore new payment cooperation scenarios with Singapore and othe

Leveraging the advantages of digital yuan, such as instant payment and settlement, low cost, and programmability, this study explores innovative solutions using digital yuan smart contracts and investigates the feasibility of expanding the application of digital yuan in scenarios such as channel payment settlement, financing, and tax refunds. It also investigates expanding the geographical scope of digital yuan cross-border applications and utilizing bilateral and multilateral cross-border business models to reduce costs and increase efficiency in channel cross-border payments.