China's international operation center for the digital RMB launched CBETS LIFT on Friday at a China-ASEAN financial forum in south China's Nanning, introducing a digital yuan framework for cross-border trade settlement and financing.

The center, set up by the People's Bank of China, said the service was designed to ease frictions in cross-border payments and trade finance.

CBETS LIFT, offered through the center's Cross-border e-CNY Transfer Services platform, or CBETS, provides a single framework for domestic financing, cross-border payments and receipts, offshore investment and the repatriation of funds to China.

The service also integrates trade data, payment flows and transaction documents across trade, shipping, freight and financing activities, the center said.

CBETS LIFT has been tested in multiple live transactions covering imports and exports. The launch came as China and Laos introduced cross-border digital-payment links, with some Lao banks connecting to CBETS and beginning to offer the service.