China is likely to be the first country to introduce a government-backed digital currency. Photo: Reuters

Facebook’s Libra set to face competition as China races to launch digital currency, official media says

  • ‘China Daily’ reported on Tuesday that the time is ‘almost ripe’ to introduce a government-backed digital currency, citing experts close to the central bank.
  • The launch of Libra was tentatively scheduled for the spring of 2020
Topic |   China economy

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China is likely to be the first country to introduce a government-backed digital currency. Photo: Reuters
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