China: Digital Yuan to Be Piloted in More Cities, Policy Design Will Be Completed by End of 2020

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Chinese local government employees to receive central bank digital currency in May 3 350x209 3

The latest official statement from China’s Commerce Ministry seeking to comprehensively deepen pilot tasks, highlight specific measures, and specify the division of responsibilities for the innovative development of service trade reveals that more cities in the second-largest economy will pilot the digital yuan. This is per the update on Aug 14 further indicates that the deployment of

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