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China should use digital currency for post-corona stimulus

E-money can be put direct into citizens' accounts but raises privacy fears

Digital yuan is expected to provide China with greater insight into financial activities of its citizens.

The world barely took note in mid-April when the news broke that the People's Bank of China is experimenting with a digital currency to be rolled out by state-owned banks.

In some ways, the news represents confirmation of just how China has leapfrogged the rest of the developed world when it comes to electronic payments and financial technology, making its systems safer and more secure.

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