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Four Agencies Developing Digital Yuan – Beijing Daily

People’s Bank of China, State Administration for Market Regulation, China Banking and Insurance Regulatory Commission and China Securities Regulatory Commission are coordinating


China's yuan rose to its highest in two months on Monday
The Chinese currency has appreciated rapidly as talk of US rate hikes easing and a loosening of China's tough zero-Covid restrictions. File photo: AFP.

 

The People’s Bank of China, State Administration for Market Regulation, China Banking and Insurance Regulatory Commission and China Securities Regulatory Commission said they would steadily promote the development of digital currency standards, Beijing Daily reported.

A standard system compatible with the construction of the modern financial system will be basically completed, and the economic, social, quality and ecological benefits of financial standardisation will be fully manifested.

Read the full report: Beijing Daily

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.