China to Boost Digital Yuan’s Global Role with New Shanghai Hub

China’s central bank will open an international operations center in Shanghai to expand the digital yuan’s (e-CNY) global presence, Governor Pan Gongsheng confirmed.

Speaking at the Lujiazui Forum, Pan called for a “multipolar currency system”, challenging the dominance of the US dollar—which has faced declining investor confidence in 2025 amid trade policy upheavals.

He also criticized traditional cross-border payments as “vulnerable to geopolitical manipulation,” positioning the e-CNY as a more stable alternative.

The move signals China’s growing ambition to reshape global finance with its CBDC.