On October 23rd, at the 3rd Bund Finance Summit held in Shanghai, Yu Yongding, member of the Chinese Academy of Social Sciences, said that the Chinese government is also very cautious in its consideration of digital currency.
Although the People’s Bank of China has issued a small amount of digital currency, it is only experimental. And it will not link this move with issues such as the internationalization of the renminbi. In China, digital payment systems are now blooming everywhere, and everyone will use Alipay and WeChat to pay, but this is still far away from the widespread recognition and use of digital currencies. In any case, be careful.