Recently, under the coordinated guidance of the Beijing Branch of the People's Bank of China, the Beijing branch of Postal Savings Bank of China has successfully carried out Beijing’s‑first cross‑border transaction via the multiple central‑bank digital currency bridge (hereinafter referred to as the currency bridge) for an enterprise of the Macao Special Administrative Region. This service settled payment for public‑transport card fees for the Macao‑based enterprise through the bridge, marking a fresh breakthrough for cross‑border livelihood‑oriented applications of the digital yuan within the capital city.

Launched in February 2021 by the People’s Bank of China together with the Hong‑Kong Monetary Authority, Bank of Thailand and the Central Bank of the United Arab Emirates, the multi‑central‑bank digital‑currency bridge is an innovative cross‑border financial infrastructure. It features fast peer‑to‑peer transfers, low‑cost dealing and round‑the‑clock 24/7 operation. Every participant independently maintains its system, transaction data is stored locally and the whole workflow remains traceable for regulators. It improves the independent‑controlling capacity of the cross‑border payment system and supplies secure, high‑efficiency and low‑cost channels for cross‑border fund settlement. Major operating institutions across Beijing have now connected to the bridge. After activating a corporate digital‑yuan wallet, enterprises are eligible to submit applications for cross‑border capital transfer and settlement via the corporate online‑banking portal of their depository bank.