Special economic zone in China Shenzhen Special Economic Zone to cover ground on digital currency research
- Chinese authorities are working on plans for the future development of research for digital currencies, within Shenzhen special economic zone.
- Recently, People’s Bank of China has already claimed that its digital currency “can now be said to be ready.”
The Central Committee of the Communist Party of China has detailed plans for the future development of the Shenzhen Special Economic Zone. It is set to include the research and promotion of digital funds and the national cryptocurrency based on the renminbi.
Upon the report, local Chinese news agency STCN covered:
“Mutual recognition of fund products. Promote interoperability with Hong Kong and Macao financial markets and mutual recognition of financial (fund) products. In the promotion of the internationalization of the renminbi, we will try first and explore innovative cross-border financial supervision. Supporting innovative applications such as digital money research and mobile payment in Shenzhen.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
