Central bank governor Yi Gang's opinion on digital currency

2. No matter from personal point of view or from Yi Gang's point of view, regarding digital monetary policy, from the standpoint of the central bank, it has revealed:
first, to maintain the continuity of monetary policy, not to release water, not to shrink abruptly
Second, it will not change the fact that bitcoin is not legally recognized
thirdly, strengthen supervision, pay attention to safety and maintain stable and neutral development
Fourth, to serve the development of the real economy
considering the consistent policy of the Chinese government on digital currency, maintaining stability and continuity should be the current orientation and trend< In addition, although Yi Gang pointed out at the Boao Forum for Asia that he would take a strict attitude towards digital currency, it does not mean that he will stop studying digital currency. At present, the central bank is studying how digital currency can serve the real economy in a better form, develop safely in the best form and avoid possible negative effects, Let digital currency serve the economy better
in spite of stricter supervision, it is still believed that the central bank will adopt a combination of easing and blocking measures for the development of digital currency in the future.

3. Yi Gang was previously the director of safe. During his tenure, he was responsible for the reform of the monetary system and the diversification of foreign exchange reserve investment. Most domestic professionals are cautiously optimistic. Xu Yaxin, senior analyst of fx168, believes that expanding the opening of the foreign exchange market, relaxing the scope of trading, increasing the number of trading subjects, enriching hedging procts, and graally building a mature and developed multi-level foreign exchange market system will still be the main axis of foreign exchange reform in the future.

4.

first of all, it has the same meaning as paper money. Digital currency is getting closer to us, so how is it different from traditional cash Mu Changchun, director of the digital currency Research Institute of the Central Bank of China, said that the function and nature of digital currency are exactly the same as paper money, but its form is digital currency. Yi Gang, governor of the central bank, said that the goal of digital currency is to replace part of cash. Fan Yifei also wrote in the book that the cost of issuing, printing, returning and storing the existing banknotes is high, the circulation system is high, it is inconvenient to carry, easy to forge, anonymous and uncontrollable, and it is used for money laundering. The demand for digitization is growing. Although digital currency has the nature of legal tender, many people think that its use is very similar to the current mobile payment

at present, the world's major central banks have been studying and exploring the new development of digital currency; The battlefield;. Huachuang Securities said that in 2019, more than 80% of the world's central banks participated in the research of digital currency, more than 40% of them have entered the pilot stage of digital currency, and nearly 10% of them have reached the landing stage. From the perspective of practitioners, the advanced layout in the field of digital currency will proce & lt; Listen to the thunder in a quiet place; It's a good effect. Although the digital currency Research Institute of the people's Bank of China emphasizes that the current online transmission of DC / EP information is a test content in the process of technology development, it does not mean that the digital RMB has been officially issued. The current closed-end examination will not affect the commercial operation of listed companies, nor will it affect the RMB issuance and circulation system, financial market and social economy outside the testing environment

5. It has been more than 20 years since Yi Gang joined the central bank in 1997. Among the vice governors of the central bank, he has been partnering with Zhou Xiaochuan for the longest time. Yi Gang accompanied Zhou Xiaochuan ring his 15 years as governor of the central bank. If he takes over, it will be more seamless. Internationalization advantage: with the improvement of China's economic status, China has become a "big financial country". Whether it is Sino US economic and trade negotiations or global financial cooperation, there are high requirements for the internationalization ability of central bank governors. Yi Gang received a doctorate in the United States, and has taught in American universities. His international communication ability is no less than that of Ogawa. Yi Gang's English pronunciation is very good. In today's financial globalization, it is very appropriate for Yi Gang to represent the central bank at the global central bank governors' meeting.

6. 1. To maintain the stability of the financial system
in the next five years, the Central Bank of China will still face many uncertainties and challenges. The first thing to bear the brunt is how to prevent and resolve financial risks
2. The new test of monetary policy regulation
it is the legal ty of central banks to formulate and implement monetary policy. Therefore, with the continuous changes of domestic and international environment, monetary policy regulation has become an eternal challenge for central banks
3. RMB internationalization has a long way to go
RMB internationalization is not only Zhou Xiaochuan's unfinished destiny, but also an important work Yi Gang needs to continue to promote ring his term of office.