August 5, 2021

The head of the Central Bank of China spoke about the role of the digital yuan in the transition to …

The head of the Central Bank of China spoke about the role of the digital yuan in the transition to a new form of economy

The head of the People’s Bank of China, Yi Gang, believes that the digital yuan will play an important role in the development of the country’s digital economy. 8btc writes about this with reference to the publication in the daily newspaper of the Central Committee of the Communist Party of China «People’s Daily».

And he talked about the importance of the digital yuan when he spoke at the 3rd China Digital Summit earlier this month. The event was sponsored by the China State Council Information Bureau, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Fujian Provincial People’s Government. Summit theme was innovation-fueled digital transformation.

The head of the Central Bank said that the development and use of China’s digital currency in the real world will significantly improve the experience of interaction and the security of retail payments. He noted that the authorities recorded a growing need for digital currency, so its launch needs to be accelerated..
 

The head of the Central Bank of China spoke about the role of the digital yuan in the transition to a new form of the economy ...

The summit also featured speakers from tech giants such as Tencent, Baidu and Alibaba, all of whom saw significant increases in online sales this year..

The head of the Central Bank of China spoke about the role of the digital yuan in the transition to a new form of the economy ...

«In the first half of the year, online retail sales grew 7.3% over the same period last year. Digitalization of consumption continues to accelerate», – Tencent Senior Vice President Xi Dan said.

The head of the Central Bank of China spoke about the role of the digital yuan in the transition to a new form of the economy ...

Baidu Chairman and CEO Robin Li supported Dan. According to him, the main task of China now is the transition to the digital economy. He also stressed that this process should be supported by representatives of all industries..

Earlier it became known that not all participants in the testing of the digital yuan were happy with the first experience of interacting with it.

 

 

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