‘There Is No Timetable For Launch of Digital Yuan’, Says Governor of China’s Cen

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‘There Is No Timetable For Launch of Digital Yuan’, Says Governor of China’s Central Bank






The governor of the People’s Bank of China (PBOC) Yi Gang, has put a damper in the general idea that China will launch its national digital currency soon. According to Gang, there is currently no plan at all for an official launch of a digital yuan.

Speaking with Financial Times and China Finance as revealed by the PBoC, Gang specifies that China’s apex bank is not currently planning a launch. The governor says even though China is currently running pilot tests of the digital yuan, the general public should not take the tests as evidence that there will soon be a publicly available digital yuan.

According to him, the tests are merely “routine work in the research and development process…[and] there is no timetable for when it will be officially launched.”

Back in April, China began testing its central bank digital currency (CBDC) in four cities in the county, including Xiongan, Shenzhen, Chengdu, and Suzhou. In Suzhou’s Xiangcheng District, the tests began with transport subsidies.

Check here: Visit