China's Belt & Road Initiative partners are set to benefit from a new trading hub that will promote the use of the digital yuan (CBDC), as outlined in a development plan proposed by the Communist Party.
The plan focuses on the Pudong New Area in Shanghai, where several pilot projects for the CBDC are planned.
The goal is to develop Pudong New Area into an international trading hub with a commercial mediation system meeting global standards, streamlined customs procedures, and improved supply chain management.
The plan also includes the establishment of educational institutions with R&D privileges and world-class medical facilities to attract international talent.
This initiative is expected to appeal to professionals from Belt & Road Initiative countries through a custom visa arrangement.