A recent article published in the Economic Daily highlights the urgent need to accelerate the application and international cooperation of the digital yuan, a crucial step in enhancing China's economic influence and reducing dependence on other major currencies. The article emphasizes the importance of strengthening ties and cooperation with economies that are China's main economic and trade partners, as well as those that require currency diversification in international transactions.

To achieve this goal, the article advocates for the active, prudent, and multi-faceted development of cross-border payment clearing and international cooperation pilots for the digital yuan. This would not only enhance the inertia and stickiness of using the digital yuan but also expand its coverage and application in regional economic and trade, investment, and financing cooperation.

Furthermore, the article suggests that the construction process of the yuan cross-border payment system and the yuan cross-border receipt and payment information management system should better consider helping to promote the digital yuan. This would involve studying and analyzing the reserve requirements of trade partner countries for the digital yuan, ensuring that the digital yuan is well-positioned to meet the needs of international trade and finance.

The article also emphasizes the need for further research to improve the multilateral central bank digital currency bridge scheme in cross-border fund allocation, international trade settlement, and foreign exchange transactions. This would address the problems of low security, low transparency, low efficiency, and high cost that currently plague several mainstream modes of cross-border payment and clearing.

By accelerating the global adoption of the digital yuan, China can strengthen its economic influence, reduce dependence on other major currencies, and enhance its position in international trade and finance. The article's recommendations provide a clear roadmap for achieving this goal, emphasizing the importance of international cooperation, cross-border payment systems, and research and development.

In conclusion, the article's call to accelerate the application and international cooperation of the digital yuan is a crucial step in enhancing China's economic influence and reducing dependence on other major currencies. By strengthening ties with key economic partners, expanding the coverage and application of the digital yuan, and improving cross-border payment systems, China can position itself as a leader in international trade and finance.