China is planning to showcase its digital yuan to the ASEAN nations, and could seek to make “cross-regional use” of its CBDC in the bloc. Some of the ASEAN (the Association of Southeast Asian Nations) members are politically aligned with China. Per the China News Network, the cities of Nanning and Fangchenggang, in the Guangxi region, are planning to “build a digital [yuan] application pilot demonstration zone for the ASEAN.” Fangchenggang is China’s southernmost port city and is a hub of trade with ASEAN nations. The new zone will feature “free trade”-related developments that will seek to boost China-ASEAN “cooperation.”
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