E-yuan uptake disappointing, former PBoC researcher says
Xie Ping argues consumer cash needs already met by other services
Uptake of China’s digital yuan has been disappointing, a former head of research at the People’s Bank of China said.
Xie Ping, now a finance professor, was speaking at a digital finance conference organised by Tsinghua University.
Central bank digital currency (CBDC) use has been “low, highly inactive”, Xie said, according to a report by Chinese financial news outlet Caixin. “The results are not ideal.”
Cumulative digital yuan transactions only crossed $14 billion (100 billion yuan) in
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