From September 8 to 11, the 25th China International Fair for Investment and Trade (CIFIT) was held in Xiamen, east China’s Fujian province. On the theme “Join Hands with China, Invest in the Future”, the fair hosted more than 100 specialized roadshows.

The multilateral central bank digital currency bridge (mBridge) project made its debut at CIFIT. PSBC, as one of the participating institutions in the project, has actively engaged itself in the development and application of the project. Currently, it is competent to fulfill cross-border settlement via mBridge, providing enterprises with more convenient cross-border payment services. PSBC has gradually applied mBridge to real business scenarios in many of its branches across the country, covering trade in services, trade of goods and other fields, with its services extending to manufacturing, freight and many other industries.

During CIFIT, PSBC provided visiting clients with detailed introductions to the mBridge project in its exhibition area in such forms as pictures, texts and videos. There were two bilingual commentators on site to systematically explain the functional advantages and application scenarios of the project to domestic and overseas clients in Chinese or English. They primarily presented how mBridge helped enterprises achieve low-cost and high-efficiency cross-border RMB settlement, enabling the audience to have a direct understanding of the new paradigm of safe, efficient and transparent cross-border payment which PSBC has provided through mBridge. They also shared a real case where PSBC Xiamen Branch used mBridge to complete cross-border procurement payments for a local paper company, vividly illustrating how this technology effectively helped enterprises reduce settlement costs and improve capital efficiency. The presentation attracted a lot of attention and inquiries from clients in industries such as manufacturing, trade and logistics, and sparked lively exchanges on site, which effectively demonstrated PSBC’s leading practice in international financial cooperation and innovative services.