Chinese digital central bank currency to have international implications – Rabobank special report

China CBDC has been named DCEP - Digital Currency Electronic Payment


  • China may be the first major country to launch a central bank digital currency or CBDC
  • The Chinese CBDC, named DCEP, will strengthen the position of the central bank and help to further modernize the Chinese economy
  • The DCEP will probably also be available for China’s trade partners, to begin with Africa
  • The DCEP may strengthen the international position of the renminbi to the detriment of the euro
  • The arrival of the DCEP should be a strong wake-up call for Western, especially European, policymakers

What does the PBoC want to achieve with the DCEP? The PBoC has several objectives with the introduction of the DCEP.

  • Prevention of a monopoly in the payment system
  • Promotion of financial inclusion and further reduction of the role played by cash
  • Better information on payment flows and prevention of illegal transactions
  • Restricting capital flight
  • Retention of monetary sovereignty

Download and read the full report by Wim Boonstra and Rabobank here.



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