Quotable quotes from Boao Forum

Zhou Xiaochuan, former governor of the People's Bank of China

Zhou stressed that both digital currencies and digital assets should closely serve the real economy, which is a substantial consideration in China's financial regulatory policy creation.

The development of the digital yuan initially targets China's vast retail market of 1.4 billion people. "We hope to offer the public a more convenient and effective payment method via technological progress."

Speaking of the use of central bank digital currencies in cross-border payments, Zhou highlighted its complexity as every country needs to ensure its monetary sovereignty.

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