China's new digital currency will be launched in the Greater Bay Area of Hong Kong.
As news.southcn.com reports about this initiativeBai Hexian, the president of the Guangzhou branch of the central bank of China, said:
«We support the first pilot applicationdigital currency payments in the Greater Bay Area, encouraging participation from qualified financial institutions. Companies using the sharing economy platform are accelerating the use of digital currency applications in government services and expanding payment scenarios in digital currency. 7;.
China Digital Currency Testing (DCEP) alreadyis in Shenzhen, one of the main cities in the Guangdong-Gongkong-Macao Great Bay area. This is a megapolis, located in the delta of the Pearl River, consisting of nine cities and two separate administrative areas in the south of China. In general, more than 56 million people live here, which is approximately equal to the success of the South Korea.
In addition, some Chinese experts believechto cektop financovyx texnology in Guandune doctatochno pazvit chtoby imet ectectvennoe ppeimuschectvo VARIATIONS pepexode From tpaditsionnoy valyuty for Digital Audio and IT'S mozhet pomoch Hapodnomu banku Kitaya (PBoC) pacppoctpanit icpolzovanie DCEP.
According to the data of the Guangzhou branch of the NBK, in the first quarter of 2020, in the province of Guangdong, 4.5 billion mobile payments were registered in the amount of 12 million dollars.
«Guangdong will continue to encourage innovation,deepen business integration with Hong Kong and Macau in the field of virtual banking, overcome obstacles and introduce innovations. The use of digital currencies allows modern financial technologies to optimize construction and development of the entire Greater Bay Area,” commented the local director. No. of the Financial Supervision Bureau of Guangdong Province, He Xiaojun.
As always, specific time frames are not indicated, however, it is possible that by the end of 2020 DCEP may be launched as a common consumer currency.
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