China says it has no plans to oust US dollar with digital yuan

International use

International use of the digital yuan will not replace the US dollar as the world’s main reserve currency, according to People’s Bank of China Deputy Governor, Li Bo.

“For the internationalization of the renminbi, we have said many times that it’s a natural process, and our goal is not to replace the US dollar or other international currencies. I think our goal is to allow the market to choose, to facilitate international trade and investment,” the head of the central bank said on a panel at the Boao forum on Sunday.

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