Zhou Xiaochuan: The central bank’s digital currency will still focus on the country.

Zhou Xiaochuan, former president of the central bank, attended the 10th Caixin Summit and said that in his view, the central bank’s digital currency will still focus on the country. “The central bank may focus more on wholesale, pay between banks and third parties. Do a good job of wholesale and engage in a digital currency. But in theory, the digital currency of the central bank can also serve retail, but the retail service will have a big impact on the existing financial system, so everyone is also very Be cautious."
Zhou Xiaochuan stressed that if the central bank's digital currency is to target cross-border transactions such as cross-border remittances and investments, then many new requirements must be met. "Not a central bank can manage it, and it may need a joint mechanism." .