China Daily: Central Bank digital currency may be released earlier than Libra

According to the English version of China Daily, officials and experts said that China is testing a variety of ways to launch the first central bank digital currency (CBDC), and they expect the private sector to be more involved in creating government-backed currencies. Based on ongoing experiments in some areas, the time has come to introduce CBDC. But experts close to the Chinese central bank said on Monday that Facebook’s announcement of its digital currency, Libra, could prompt Chinese regulators to reconsider the possible model of CBDC. Experts predict that if all goes well, the digital currency supported by the Chinese government may be earlier than Libra's official release date.