Zoom Lecture: From DC/EP to Digital Yuan: Will China start an Era of Sovereign Digital Currency?
On 10 December 2021, the China-CEE Institute invited Prof. CHENG Lian, Vice Director, Center of Financial Policy, Chinese Academy of Social Sciences (CASS) and Head of Department of Fundamental Research, Institute of Finance & Banking, CASS, to deliver a lecture entitled “From DC/EP to Digital Yuan: Will China start an Era of Sovereign Digital Currency”. Dr. MA Jinxing, Project Manager of China-CEE Institute, moderated this lecture. The Institute’s non-resident researchers and researchers from partner institutions participated in the lecture. The lecture lasted about one-hour in total.
As a forerunner in the area of Fintech application, China’s digital yuan project has attracted the attention of the world. Prof. Cheng made a short introduction about why to introduce a sovereign digital currency. With that preamble, Prof. CHENG went into discussing on what digital yuan (e-CNY) is and how digital yuan works at present stage. Then he made a deep and thorough analysis of the objectives of digital yuan project, and briefed some facts about digital yuan pilot programs to summarize their policy implication. At last, He summed up the impacts of digital yuan on market players and financial stability, showed the what the digital yuan will bring for the business world in future.
