The Shanghai Headquarters of the People's Bank of China (PBOC) held a press conference for the first quarter of 2026, introducing the financial operations in Shanghai in 2025 and answering questions from reporters. Zhou Peng, Deputy Director of the Monetary and Credit Research Department of the PBOC Shanghai Headquarters, stated that the PBOC Shanghai Headquarters has made a series of new progress in promoting the construction of Shanghai as an international financial center, and has facilitated the implementation of the policy on refinancing of blockchain-based letters of credit for shipping and trade. The International Operation Center for Digital RMB has officially commenced operations in Shanghai, and the pilot program for multilateral central bank digital currency bridges is also progressing in depth. Efforts are being made to launch the online payment function for bank cards and digital RMB hard wallets for gate access on all Shanghai rail transit lines, and full support is being provided for the preparation and operation of the International Monetary Fund (IMF) Shanghai Center.