Digital Yuan Not Seeking to Replace Dollar or Euro, Says Former Bank of China Governor

 Economist Zhou Xiaochuan, who served as governor of the People's Bank of China (PBOC) for 15 years, recently said that the nation does not aim to challenge the dollar or the euro with its new digital yuan. And, despite the concern generated by the method of payment at the international level, believes little possible that the currency can alter the order of the global monetary system.

These have been the statements made by the former governor of the People's Bank of China at the Shanghai Financial Forum, according to the South China Morning Post. In his speech, which was characterized by a conciliatory and reassuring speech, Xiaochuan confirmed that several countries have felt threatened by the launch of the PBOC's Electronic Payment with Digital Currency (DCEP).

No comments: