PBoC gets go-ahead from China’s cabinet to develop CBDC
China’s central bank is developing its own CBDC, as officials voice concerns over Facebook’s Libra
China’s cabinet, the State Council, has given the go-head for the next stage of the central bank’s digital currency programme, according to Wang Xin, director of the central bank’s research bureau.
“With the official approval from the State Council, the People’s Bank of China is organising financial institutions to jointly research and develop a central bank digital currency,” Wang told a seminar at Peking University on Monday (July 8).
The PBoC’s central bank digital currency (CBDC) programme
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- Supervisors grapple with the smaller bank dilemma
- Fed policy-makers disagree over risks
- Central bank of the year: Central Bank of Brazil