Digital yuan pilots making steady progress: official

0 申博电子游戏Print E-mail Xinhua, March 23, 2021
Adjust font size:
Photo taken on Oct. 12, 2020 shows a sign reminding customers that digital yuan is accepted at a supermarket in Shenzhen, south China's Guangdong province. [Photo/Xinhua]

China's digital yuan pilots and tests are making steady progress, according to a researcher under the People's Bank of China, the country's central bank.

During a summit at the China Development Forum 2021, Mu Changchun, head of the central bank's digital currency research institute, dismissed concerns of user privacy infringement, saying the digital currency has the highest level of privacy protection among existing payment tools.

China's digital yuan, although still in its pilot phase, will include more people in the rapidly developing digital era, making daily life easier and digital payments more secure.

The digital currency will be issued by the country's central bank and legally backed by the government as an alternative to paper money.

China will steadily advance the research and development of digital currencies and actively participate in the formulation of international rules and technical standards on data security, digital currencies and data tax, according to the outline of the country's 14th five-year plan for national economic and social development and the long-range objectives through the year 2035.

Other countries including Canada and Japan have also been gearing up preparations for digital currencies.

"The use of cash will be reduced by at least 40 percent in the coming decade," predicted Zhu Min, chairman of the National Institute of Financial Research at Tsinghua University, as central bank-backed digital currencies will become more common globally.

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
网站地图 老虎机游戏 申博娱乐手机版 太阳城娱乐登入 太阳城亚洲注册
www.1388msc.com 菲律宾太阳娱乐管理登入 申博代理官网正网 太阳城
申博现金百家乐 澳门博彩公司 申博现金百家乐 百家乐娱乐登入
申博登录网址 申博娱乐官网 申博娱乐手机版 太阳城会员登入
澳门新葡京赌场 申博太阳城现金网 菲律宾太阳城申博 菲律宾太城申博