The People's Bank of China (PBOC), issued an announcement during the 2023 Working Conference on Jan. 4, assuring the public that the CBDC trial is "running steadily."
The PBOC 2023 Working Conference discussed various aspects of the economy in China, which has been severely affected by the COVID-19, reported Beincrypto. One of the critical points in the meeting was the digital yuan, the country's digital currency, and the PBOC stated that the pilot for the digital yuan continues steadily.
Xie Ping, former PBOC Research Director and current Finance Professor at Tsinghua University, has recently made significant comments about China's CBDC and expressed his disappointment at the little use of the digital yuan in China. He said that cumulative digital yuan transactions exceeded only $14B (100B yuan) in October, two years after its launch.
