The Straits Times
Major step forward for digital renminbi: China Daily
The paper says that digital currencies are expected to take centre stage, with the advent of the digital economy era.
China started testing a digital currency as early as 2014, and it is considering revising its bank law to pave the way for issuing of the digital renminbi, says the paper.PHOTO: REUTERS
PublishedDec 15, 2020, 11:35 am SGT
https://str.sg/Ja7z
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China s fintech innovation thrives in unusual year » Borneo Bulletin Online borneobulletin.com.bn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from borneobulletin.com.bn Daily Mail and Mail on Sunday newspapers.
The long queues at automatic teller machines (ATMs) have become a rare sight as people in China are already accustomed to going out with mobile phones instead of wallets, and many can t even remember when they withdrew cash the last time.
Rather than visiting brick-and-motor banks, people, especially the younger generation, turn to mobile phones and computers since the Internet and apps cover most banking services.
Official data showed that the number of ATMs dropped by 68,600 from the end of last year to September, while 2,790 more commercial bank outlets were shut down in the first 11 months, following the closure of more than 6,280 over the past two years.
China s fintech innovation thrives in unusual year Xinhua | Updated: 2020-12-14 13:52 A visitor uses a robot capable of providing financial services during an expo in Beijing. [Photo/Xinhua]
BEIJING The long queues at automatic teller machines (ATMs) have become a rare sight as people in China are already accustomed to going out with mobile phones instead of wallets, and many can t even remember when they withdrew cash the last time.
Rather than visiting brick-and-motor banks, people, especially the younger generation, turn to mobile phones and computers since the Internet and apps cover most banking services.
Official data showed that the number of ATMs dropped by 68,600 from the end of last year to September, while 2,790 more commercial bank outlets were shut down in the first 11 months, following the closure of more than 6,280 over the past two years.
China s fintech innovation thrives in unusual year - People s Daily Online en.people.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.people.cn Daily Mail and Mail on Sunday newspapers.