CIC Securities Zhang Anyuan: The Chinese central bank is aggressively advancing on digital currency, in response to the double squeeze of the dollar and digital currency

Zhang Anyuan, chief economist at CITIC Securities Research, said that since Facebook published the Libra White Paper on June 18th, governments, central banks and regulators have issued crypto-stabilized coins based on a basket of reserve assets to private institutions. , highly valued or alert. Unlike the conservative attitude of major international currency issuers, the People's Bank of China has shown an unusually enterprising attitude. First, on August 2, the People's Bank of China clearly stated that “accelerating the pace of research and development of legal digital currency”, and then releasing the central bank's digital currency design concept, technical structure, operating system, pilot test area, etc. through various channels, the information points to The currency may be launched during the year. Today, mobile payment instruments such as Alipay and WeChat payment have become so fast. The People's Bank of China is eager to introduce legal digital currency. The goal is obviously not to further promote the convenience of domestic payment. Responding to the double squeeze of international leading currency and overseas digital currency and alleviating the contradiction of cross-border payment brought about by the long-term control of capital projects should be an important mission of the central bank's digital currency.