Digital yuan won't impact on global financial system: former

Digital yuan won't impact on global financial system: former central bank chief


SOURCE / ECONOMY
By Global Times Published: Apr 21, 2021 08:18 PM
A vegetable store supports digital yuan payment in Shanghai. Photo: Qi Xijia/GT
The alleged impact of the digital yuan on the international financial system won't be significant, as the emerging Chinese digital currency only covers a small amount of payments currently, the former head of China's central bank said on Wednesday.
"The digital yuan is currently being tested for low-value payments such as cross-border retail and online shopping... and its globalization process depends on the yuan's globalization," Zhou Xiaochuan, former governor of the People's Bank of China (PBC), said on Wednesday during a panel discussion under the Boao Forum for Asia (BFA).

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