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Cross-border payments of the digital renminbi have never been ignored by central bank officials and financial regulators since the innovation started, although they still need a long-term view to allow transactions on various electronic systems across jurisdictions, monetary experts said.

Currently Ford China is responsible for selling imported cars, Changan Ford sells products it produces while another Chinese joint venture, JMC, has its own distribution network. The new organization, which will be part of Changan Ford, will be responsible for marketing, sales and services associated with all Ford-branded passenger vehicles, to offer a simplified and consistent experience for customers, according to the company.

Customers try out the large-screen foldable devices launched by Royole Corp, a manufacturer of flexible displays and smart devices, during a news conference in Beijing, Oct 31, 2018. [Photo/IC]

DC/EP transactions entail smart contracts whose records are maintained, thereby ensuring fool-proof security. Alipay and WeChat Pay are more like digital wallets to keep a certain currency to make mobile payments. While DC/EP is digital cash itself, mobile payment tools are part of the country's financial infrastructure, said a senior PBOC official.

Cruise routes to the province have grown to 17, covering more countries in Southeast Asia, officials said.