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E-CNY certain to promote renminbi's internationalization

E-CNY certain to promote renminbi s internationalization
By CHEN JIA |
China Daily |
Updated: 2021-07-29 09:18
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E-CNY is promoted during an expo in Dalian, Liaoning province. [Photo by Lyu Wenzheng/For China Daily]
E-CNY, the digital currency of China s central bank that is in the works, will further promote the process of renminbi internationalization once the RMB becomes the world s third-largest currency in terms of pricing, settlement and international reserves, experts said on Wednesday.
E-CNY, or the digital RMB, is currently undergoing tests through trials. Cross-border e-commerce payments could be the next key scenario for e-CNY use because it is natural and particularly easy to accept , said Tu Yonghong, deputy director of the International Monetary Institute (IMI), which is part of the Renmin University of China. ....

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Beijing Accelerating Plans to Replace US Dollar as World Reserve Currency: Chinese Professor

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The Chinese regime is accelerating its efforts to challenge the U.S. dollar’s dominance in global markets and trade by taking advantage of the economic shifts caused by the pandemic, a Chinese professor recently revealed.
In the post-pandemic world, China should be the “one who decides the benchmark of value,” Di Dongsheng, associate dean of the School of International Studies at Renmin University in Beijing said in a video posted on Chinese social media on Feb. 4. “The currency that fixes the price will eventually be the renminbi.” ....

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