China advances yuan-backed stablecoin plan to challenge dollar dominance
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最新报道：China is developing yuan-backed stablecoins through Hong Kong to reduce reliance on the U.S. dollar and strengthen the renminbi's global presence. These CNY-pegged stablecoins will facilitate cross-border transactions while bypassing U.S. financial sanctions. The initiative supports China's broader strategy to challenge dollar dominance with digital financial tools. Hong Kong's regulatory sandbox allows state-controlled stablecoin testing, circumventing mainland China's cryptocurrency trading restrictions.
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