Morgan Stanley analysts are predicting that the Chinese yuan will become the third-largest reserve currency in the world, is the DCEP part of the plan?
A Chinese senior central bank official said China should maintain a “normal” monetary policy as the country has been recovering from COVID-19 smoothly.
A source close to the matter said that China's CBDC pilot program "has not yet been expanded on a large scale," and the test is just "internal and closed.”
China is planning a more extensive expansion of the testing of its central bank digital currency (CBDC) after reportedly starting its first tests in the Greater Bay Area.
China’s central bank digital currency (CBDC) has been successfully launched earlier this year and the country is currently continuing its path towards fully launching its digital currency electronic payment (DCEP).