"South China Morning Post": China explores virtual markets

On December 14, the News Network reported on the South China Morning Post website in Hong Kong that China had recently decided to set up a virtual market. Pilot project in renminbi.

Details of the proposed digital trading site have not yet been released, according to the report, but analysts believe the exchange will not apply to the cryptocurrency market. . China has historically restricted the circulation of various digital and non-homogeneous tokens.

According to a Hong Kong bank employee who requested anonymity, digital assets include credit information for tokenization of contracts or credits.

Chen Bonan, chairman of the Hong Kong Securities Dealers Association, said the latest announcement will affect the promotion of the use of the digital yuan. You can see that the country has decided to promote its digital advantages. Chen Bonan said that the development of this platform will be easier for Beijing banks, as the digital renminbi is a project that requires a lot of discussion about the management of the People's Bank of China and other important temples. The first issue of these banks was approved online in 2014. Given the importance of government plans to promote the use of the digital renminbi, it is likely that more banks will emerge in the near future.