“Hong Kong’s finance minister firmly spoke of the need for digital transformation and confirmed that the region will conduct technical tests on China’s digital central bank currency (CBDC) in the form of a digital yuan in 2022.
Hong Kong Finance Minister Paul Chan Mo-po said in an essay posted on the ministry’s website on June 27 that the organization would begin technical testing of the digital yuan. Guided by the idea of “keeping up with the times”, Mo-po began his essay by saying that he was aware of how enthusiastically the Chinese public used consumer vouchers and discounts with e-wallets. This motivated him to reflect on the impact of the digital yuan, which he believes will increase the public’s interest in digital systems, as mentioned earlier.“”
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