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Zhou Xiaochuan in Boao, DCEP Focusing on Retail, Cross-border payments no rushing

case study
executive summary

China should not rush to use the digital yuan for cross-border payments due to regulatory obstacles and foreign concerns about its global impact, Zhou Xiaochuan, the country's former central bank governor, said at the Boao Forum on Wednesday.

The digital yuan, which will be mainly for domestic retailing payments, is likely to be used for cross-border payments but it faces complex issues such as restrictions on money laundering and terrorist and gambling funding, Zhou said.

Cross-border payments via digital yuan were not easy, he said. "We cannot rush it."

In this case study, you will be able to:
- Analyse his quotes and speech
- Understand the potential of digital currency in China
- Identify the key leaders in the People's Bank of China
- Prepare your next meeting of digitalization in fluent Mandarin

case study
key point

The key point and your take-away from this case study 'Zhou Xiaochuan in Boao, DCEP Focusing on Retail, Cross-border payments no rushing'. Your learning combines both language skills and market knowledge.

ˋ ˋ

数字

shù zì

digital

ˋ ˋ

数字

shù zì

digital

digital; numeral; digit; number; figure; amount; digital (electronics etc); mw:个[gè]

ˊ ˊ ˋ

人民币

rén mín bì

RMB Renminbi

ˊ ˊ ˋ

人民币

rén mín bì

RMB Renminbi

RMB Renminbi; Renminbi (RMB); Chinese Yuan (CNY)

ˋ ˊ

未来

wèi lái

future

ˋ ˊ

未来

wèi lái

future

future; tomorrow; approaching; coming; pending; mw:个[gè]

ˊ

仍

réng

still; yet; to remain

ˊ

仍

réng

still; yet; to remain

ˋ ˇ

重点

zhòng diǎn

emphasis

ˋ ˇ

重点

zhòng diǎn

emphasis

emphasis; focal point; priority; key; with the emphasis on; focusing on

ˉ ˋ

关注

guān zhù

to pay attention to; to follow sth closely; concern; interest; attention

ˉ ˋ

关注

guān zhù

to pay attention to; to follow sth closely; concern; interest; attention

ˇ ˊ

小额

xiǎo é

small amount

ˇ ˊ

小额

xiǎo é

small amount

ˊ ˋ

零售

líng shòu

to retail; to sell individually or in small quantities

ˊ ˋ

零售

líng shòu

to retail; to sell individually or in small quantities

ˉ ˋ

支付

zhī fù

payment

ˉ ˋ

支付

zhī fù

payment

payment ; (PRC Mainland & HK usage)

。

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