全球央行数字货币发展态势_及数字人民币的战略意义_11页_1mb

Global CBDC Development and China's Digital Yuan Strategy

Introduction

The research examines the global trends in central bank digital currency (CBDC) development, highlighting that 94% of central banks, as per BIS data, are exploring digital currencies. China has strategically integrated its digital yuan into monetary policy frameworks, with significant policy support from documents like the "十四五" and the 20th CPC National Congress.

Academic Framework

The Ben and Garrat framework defines key CBDC attributes: broad accessibility, digital functionality, central bank issuance, and point-to-point transaction model. Academic studies emphasize efficiency, cost reduction, and potential impacts on international payments.

Strategic Importance of CBDC

CBDCs are seen as transformative for payment systems, potentially reducing costs and enabling cross-border transactions without traditional intermediaries. In China, the digital yuan supports innovation in monetary policy and financial sovereignty.

China's CBDC Development

China's effort involves rigorous R&D, testing, and phased implementation. The digital yuan is viewed as a strategic move to strengthen financial stability, enhance payment infrastructure, and maintain competitiveness in a digital economy era.

Conclusion

The global race toward CBDC underscores China's commitment to leading in digital currency innovation, with far-reaching implications for economics and finance.