China’s yuan is not included in the underlying assets of Libra, and the People’s Bank of China has seemingly made progress in developing a sovereign digital currency. Photo: Reuters

China warned not to rush into creating digital currency to rival Facebook’s Libra, instead join global debate

  • China has fast tracked development of its sovereign digital currency, but a former central bank deputy governor has urged China to think about its response
  • Central banks from Canada, Britain, Japan, and Sweden, as well as the European Central Bank, this week joined forces to look at ‘cases for central bank digital currency’
Topic |   China economy

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China’s yuan is not included in the underlying assets of Libra, and the People’s Bank of China has seemingly made progress in developing a sovereign digital currency. Photo: Reuters
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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.