If the new currency, known by its internal shorthand “DC/EP,” or “digital currency/electronic payment,” is rolled out to the public, it would be the first electronic payment system launched by a major central bank
By Eva Xiao Close Eva Xiao Aug. 14, 2020 2:08 am ET HONG KONG—China’s Commerce Ministry said it would expand a pilot program for its digital currency to include a number of large cities, advancing a pioneering initiative by a major central bank to launch an electronic payment system.
There was no timeline for when the expanded pilot programs would begin, though the Commerce Ministry said in a broader statement outlining service sector initiatives—including the digital currency—that the policy design should be completed by the end of 2020. Shifting to a government-run digital payment system would help combat money laundering, gambling and terrorism financing, the PBOC has said. The intention is to replace some of China’s monetary base—cash in circulation—but the central bank has said the new currency won’t replace other aspects of the country’s money supply.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Telemedicine Startup Eden Health Raises $25 Million To Expand Commercial Real Estate PartnershipsTelemedicine startup Eden Health raised $25 million to expand commercial real estate partnerships by Noah_Kirsch
Weiterlesen »
China Moviegoers Reflect On Six Months of Cinema ClosuresSome moviegoers feel China’s exhibition sector has been unfairly targeted by prolonged closures and excessive COVID-19 prevention measures, Variety found in a WeChat-based survey of cinema patrons.…
Weiterlesen »
Opinion | How to Beat China and Help the World’s PoorFrom WSJopinion: The developing world is willing to embrace capitalism and it needs the money as it fights off Covid. Here’s how to unleash market forces, writes ReadingSignals
Weiterlesen »
Economic clout makes China tougher challenge for U.S. than Soviet Union was - PompeoChina's global economic power makes the communist country in some ways a more difficult foe to counter than the Soviet Union during the Cold War, U.S. Secretary of State Mike Pompeo said on a visit to the Czech Republic on Wednesday.
Weiterlesen »
Coronavirus found on Ecuador shrimps in China, state media saysA city in China's eastern Anhui province found the novel coronavirus on the packaging of shrimps from Ecuador, state media reported on Wednesday, in the latest instance of the virus being detected on imported products.
Weiterlesen »