Chinese CBDC must find use in retail and remittance, former PBoC Governor

Former governor of People’s Bank of China Zhou Xiaochuan recently admitted to a local media news outlet that it is imperative for the Chinese CBDC to find use in retail and remittance payments. Zhou Xiaochuan is one of the most influential economists, bureaucrats, and reformists in the country, but he is best known for his long term service as the governor of the People’s Bank of China (PBoC). After fifteen years of carefully manoeuvring the country through financial ups and downs, he decided to step down last year. However, his ability to speak straight from the shoulder and take a