Free Trial

Digital Yuan Not Seeking to Overtake Dollar: Vice Governor

CHINA PRESS
MNI (Sydney)

China's digital currency is not designed to challenge the U.S. dollar's global dominance, PBOC Deputy Governor Li Bo said at the Boao Forum as reported by the Securities Times. The PBOC will widen the digital currency's domestic use while promoting the Chinese currency's internationalization, said Li. The PBOC needs to improve the regulatory frameworks for the currency before an official launch can be decided, Li told the Forum. The PBOC is also probing Bitcoin and other cryptocurrencies to gauge the financial risks, Li said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.