Chinese CBDC could bolster renminbi internationalisation

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Feng, Hui
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2021
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The launch of a People’s Bank of China’s (PBoC) digital renminbi would probably have important implications for the global status of the Chinese currency. In HSBC Reserve Management Trends 2021, Hui Feng says a digital renminbi would be expected to “reduce transaction costs” and “increase efficiency” for internal payments and settlements. This would “facilitate [the renminbi’s] international acceptance and popularity”, says Feng, who is a fellow at Griffith University’s Asia Institute.

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Central Banking
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FT150100370
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Banking, finance and investment
Policy and administration
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Feng, H, Chinese CBDC could bolster renminbi internationalisation, Central Banking, 2021
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