News China Currency: Exclusive-China considering yuan-backed stablecoins to boost global currency usage, sources say
China's cabinet – will review and possibly approve a roadmap later this month for the greater usage of the currency globally, including catching up with a U.S. push on stablecoins, said the sources. The plan is expected to include targets for usage of the Chinese currency in the global markets and outline the responsibilities of domestic regulators, they said, adding that the roadmap will also include guidelines for risk prevention. The country's senior leadership is also expected to meet for a study session as early as the end of this month, focusing on yuan internationalisation and stablecoins, which are gaining momentum worldwide, said one of the sources.
News China Currency: China is expanding into digital currencies, hoping to promote use of its ‘people’s money’
China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status as the world’s second-largest economy and challenge the overwhelming sway of the U.S. dollar in international trade and finance.
News China Currency: Deutsche Bank Gets China’s Currency Stamp
The German lender became Europe’s first renminbi clearing bank, giving Beijing another bridge for pushing the yuan beyond China’s borders.
News China Currency: China's yuan currency war appears to be a fighting retreat
For a nation with its finger supposedly on the doomsday button in the so-called currency wars, China is being remarkably restrained in not entering the fray all guns blazing. Rather, it is spending ...
News China Currency: China's digital currency
China was the first major economy to begin exploring its own digital currency in 2014, though it is yet to launch the proposed digital yuan. Unlike cryptocurrencies such as bitcoin, which are not centrally controlled, China’s “sovereign” digital coin would fall under the authority of the People’s Bank of China. China maintains a blanket ban on the trading of any cryptocurrencies, as the government regards them as a source of financial risk.
News China Currency: How China’s Digital Currency Could Challenge the Almighty Dollar
The rise of China's digital RMB and other digital currencies may mean the end of the dollar as the default currency for developed nations.
News China Currency: Xi Jinping calls for China’s renminbi to attain global reserve currency status
Xi Jinping has called for the renminbi to become a global reserve currency, in some of his clearest comments on his ambitions for China’s currency as Beijing seeks to play a greater role in the ...
News China Currency: China is pushing for broader use of its digital currency, but challenges remain
China has pushed to expand the number of users for its sovereign digital currency through partnerships with tech giants including Tencent and JD.com.
News China Currency: Thanks to COVID, China's New Currency Is the Potato | Opinion
The People's Republic of China has a new currency. It's called the Potato. University students in Xian prefer to take potatoes over cash for tutoring services, Charles Burton, a China watcher at the ...
News China Currency: China is pushing for broader use of its digital currency
China has pushed to expand the number of users for its sovereign digital currency through partnerships with tech giants including Tencent and JD.com.
