China to ‘prudently advance’ digital currency, improve design and use

China will continue to advance the development of its central bank digital currency and improve its design, People’s Bank of China (PBOC) governor Yi Gang said on Tuesday.China is a front-runner in the global race to launch a central bank digital currency (CBDC) and is testing a digital yuan, or eCNY, in major cities including Shenzhen, Beijing and Shanghai, but has not set a timetable for its official roll-out.Going forward, we will continue to prudently advance [research and development] of…

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