ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

'No timetable' on digital yuan: China central bank governor

Yi Gang cites need to manage risk to quell market speculation over launch

Speculation over China's e-yuan project has grown since Facebook announced plans to introduce its own cryptocurrency. (Photo by Takaki Kashiwabara)

BEIJING -- The People's Bank of China has "no timetable" for launching its planned digital currency, the bank's governor said Tuesday, in his first direct mention of the e-yuan project in a news conference.

Speaking in advance of the 70th anniversary of modern China on Oct. 1, Yi Gang cited the need for studies, tests and evaluations before adopting the virtual currency, which he said would be aimed to partly replace cash. A team at the central bank had made "positive progress" in studying digital currencies since starting work in 2014, he added.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more