The People's Bank of China (PBOC) believes China needs to win the race for national digital currencies.
In the articlePBOC's China Finance says China needs to end its dominance of the US dollar and internationalize the yuan. The article states:
China has many advantages and opportunities to issue fiat digital currencies, so it should try to be the first in this race.
China Is Getting Closer to Launching Its Own CBDC, and Commercial Banks Are Already TestingAn e-wallet for a new currency.
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