Xi Jinping to G20 participants: authorities’ attitude towards CBDC should be more friendly

President of the People’s Republic of China Xi Jinping called on the G20 participants to approach the adoption of digital instruments by central banks in a more friendly and open manner.

So, in his statement, he called on the G20 member states to promote the healthy development of the digital economy in order to solve problems regarding the security and privacy of data and its owners. “We must adopt people-centered policies that foster innovation and build confidence,” Xi Jinping said. He stressed that China, in turn, is ready to join other states to discuss and formulate rules for global digital regulation. The President of the People’s Republic of China called on the parties to take a course for the healthy development of innovations in the financial industry.

We will remind, earlier Xi Jinping said that China should take advantage of the momentum and take a leading role in creating an international system for regulating digital currencies.