A senior central bank official has proposed establishing a controlled environment known as a “regulatory sandbox” to test China’s digital yuan and push greater capital account convertibility between Shenzhen and Hong Kong.The proposal from Xing Yujing, president of the People’s Bank of China’s Shenzhen branch, comes as Beijing accelerates promotion of its sovereign digital currency, the so-called Digital Currency Electronic Payment (DCEP), and takes careful steps to allow freer capital flows…
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