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⍰ ASK How do offshore banking institutions contribute to the development of a cashless society in China?

Offshore banks are helping China move towards a cashless way of doing things. They make it easy for people and businesses to do money stuff across borders, use digital payments, and connect with the global financial scene. These banks also play a big part in making China's currency, the yuan, more global.

Using offshore banks, you can do money transactions in different currencies without needing actual cash. This fits into China's bigger plan to push for digital payments and reduce the use of regular cash transactions.

These banks also offer high-tech money services like online banking, mobile payments, and digital wallets. This matches what China is doing within the country to move away from using a lot of cash, especially with popular mobile payment platforms like Alipay and WeChat Pay.
 

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