Recently, the 2026 China International Financial Exhibition was held in Shanghai, and the press conference on “How to get money home faster and more stably” attracted widespread attention.
Under the guidance of the Digital Currency Research Institute of the People’s Bank of China and the Zhejiang Branch of the People’s Bank of China, relying on the “CBETS” cross-border settlement service system built by the Digital RMB International Operation Center and deeply integrating the multilateral central bank digital currency bridge (mBridge) system, Yiwu Pay and the Industrial and Commercial Bank of China Zhejiang Branch jointly launched a new digital RMB cross-border e-commerce payment solution, realizing collaborative innovation among banks, payment institutions, and digital RMB cross-border infrastructure.
Yipay general manager Zuo Gang pointed out at the press conference: “Yiwu is known as the world’s supermarket and is also the vane of China’s foreign trade exports.” As a state-owned licensed payment institution, Yipay has always adhered to the concept of taking root in Yiwu and serving the world. Focusing on the actual needs of small, medium and micro foreign trade merchants, Yipay provides tens of thousands of merchants with safe, compliant and efficient cross-border payment services.
For a long time, Yiwu’s small, medium and micro foreign trade merchants have been troubled by “long cross-border collection links, slow arrival, high costs, and opaque fund status.” “The goods have been sent, but the payment is still in transit” is a real problem they face in cross-border collection.
In response to these problems, Yipay actively explores the cross-border application scenarios of digital renminbi. Relying on the multilateral central bank digital currency bridge (mBridge) and CBETS “Digital Currency” system capabilities, it cooperates with the Zhejiang Branch of the Industrial and Commercial Bank of China to launch a digital renminbi cross-border e-commerce payment solution to build a more compliant, efficient and secure cross-border collection channel for small, medium and micro foreign trade merchants.
Under the guidance of the Digital Currency Research Institute, the multilateral central bank digital currency bridge (mBridge) and CBETS “digital currency” dual systems collaboratively empower ICBC’s “cross-border e-dencom” and Yiyue payment merchant systems, thus making up for the shortcomings of traditional wire transfers in scenarios such as small-amount high-frequency collections and fund visualization.
The implementation of the ICBC and Yipay solution is an initial large-scale pilot of the dual system for small, medium and micro cross-border e-commerce. In the future, it will continue to iterate scene adaptation based on the demands of Yiwu’s massive merchants, and gradually empower various cross-border trade formats across the country.
Zuo Gang, general manager of Yipay, vividly summarized this solution as a “compliance highway” for cross-border payment collection.
“Relying on the digital renminbi system to achieve point-to-point cross-border payments, it effectively reduces the lengthy links of intermediaries, with low cost and high efficiency.” The core value of this solution is to transform the national-level digital renminbi cross-border payment capabilities into business convenience and service dividends that Yiwu merchants can perceive.
Relying on cross-border payment infrastructure such as mBridge and CBETS, the solution effectively compresses the transfer link in traditional cross-border settlement, improves the efficiency of fund arrival, and ensures the fund security of small, medium and micro foreign trade enterprises through traceable and auditable fund trajectories.
It relies on Yiwu’s years of accumulation of real trade scenarios, merchant resources and cross-border collection service experience, laying a solid foundation for the large-scale application of digital renminbi in cross-border e-commerce payment and settlement scenarios.
This innovative solution not only solves the merchant’s anxiety of “the goods are shipped but the money is still on the way”, but also ensures through technical means that every “sunshine income” can withstand inspection, truly achieving worry-free compliance.
In the context of the accelerated implementation of cross-border infrastructure construction for digital renminbi, the two major channels of the Multilateral Central Bank Digital Currency Bridge (mBridge) and “CBETS” (CBETS), led by the Digital Currency Research Institute, are ushering in the implementation of key scenarios.
It is reported that relying on the trade infrastructure of “World Supermarket” Yiwu, YiwuPay and Industrial and Commercial Bank of China officially released a digital RMB B2B cross-border settlement solution, taking the lead in embedding trade collections of small and medium-sized merchants into a full-link system of “digital RMB infrastructure-commercial banks-licensed payment institutions” to achieve cross-border RMB payments in Hong Kong, the Middle East, Southeast Asia and other directions in seconds.
This innovative solution, which relies on the three-party linkage of national digital currency cross-border infrastructure, bank upgrade products, and payment institution terminal services, is a typical benchmark for the implementation of new digital financial productivity in the real economy.
As a state-owned payment brand under Yiwu Commodity City (600415), the launch of Yipay is not only the launch of a single product, but also an important step in serving the national strategy and empowering the real economy.
Zuo Gang said: “The future is here, let us use digital renminbi to do business with people on earth!” With the implementation of this plan, Yipay will continue to play the role of a “world supermarket” as a financial infrastructure and promote the extension of digital renminbi cross-border payment channels from serving leading enterprises to serving a large number of small, medium and micro foreign trade entities.
