TechFlow news: Former PBOC governor Dai Xianglong insists that China needs to "lead the world" in CBDC adoption, which would help make the renminbi the "most stable currency."
Dai Bingguo added that Beijing also needs to advance the construction of a stronger and better central banking system. China aims to de-dollarize most of its trade sector and hopes international partners will increase their use of the renminbi.
It is reported that countries such as Russia and Argentina have already started using the renminbi to pay for most of their imports from China.
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