Chinese CBDC could bolster renminbi internationalisation – Hui Feng


The launch of a People’s Bank of China’s (PBoC) digital renminbi would probably have important implications for the global status of the Chinese currency.

In HSBC Reserve Management Trends 2021, Hui Feng says a digital renminbi would be expected to “reduce transaction costs” and “increase efficiency” for internal payments and settlements.

This would “facilitate [the renminbi’s] international acceptance and popularity”, says Feng, who is a fellow at Griffith University’s Asia Institute.


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