Former China Central Bank Governor Says China Needs to Lead the World in CBDC Adoption

Former governor of the People's Bank of China, Dai Xianglong, insisted that China needs to "lead the world" in the adoption of CBDC, which will help make the yuan "the most stable currency".Dai Bingguo added that Beijing also needs to promote the construction of a larger and better central bank system. China hopes to de-dollarize most of its trade departments and hopes that international partners will increase their use of the yuan.It is reported that countries such as Russia and Argentina have already paid for most of their imports from China in yuan.