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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is experiencing a continuation of moderate economic recovery, economist saysShuang Ding of Standard Chartered discusses the outlook for the country's economy.
Persons: Shuang Ding Organizations: China, Standard Chartered
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect China's economy to grow 5.8% in 2023, Standard Chartered saysShuang Ding of Standard Chartered explains why its forecast for China's economy is above consensus.
[1/2] People buy food at stalls promoting China's digital yuan, or e-CNY, during the 2022 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Tingshu WangHONG KONG/SHANGHAI, Oct 27 (Reuters) - China's digital yuan took the centre stage in the world's largest cross-border central bank digital currency (CBDC) trial to date, a report showed, pointing to how Beijing is speeding up yuan globalization efforts amid rising geopolitical tensions. China's digital currency, or e-CNY, was the most issued, and actively transacted token in the $22 million pilot that used CBDCs to settle cross-border trades, a Bank of International Settlement (BIS) report showed. The PBOC's participation in m-Bridge represents its ambition to eventually promote global, wholesale use of the e-CNY. But China's yuan internationalisation, digital or not, faces challenges amid a slowing economy ravaged by COVID flare-ups, and a property debt crisis.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina could expand its domestic market to reduce reliance on exports, says Standard CharteredShuang Ding of the bank discusses the 20th Party Congress of the Chinese Communist Party and says there was a "realistic assessment of [the] external environment" that the country faces.
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