Skip to main content

CCIEE Vice Chairman Says PBOC Will Be First to Roll Out Digital Currency - Pandaily

Huang Qifan, vice chairman of CCIEE (China Center for International Economic Exchanges), speaking at the Inaugural Bund Financial Summit of 2019 in Shanghai, said that "in the current digital age, the payment and settlement methods between enterprises and countries need to be reshaped”. He also went on to say that cross-border liquidation of China’s renminbi (RMB) is "highly dependent" on SWIFT (Society for Worldwide Interbank Financial Telecommunication) system and CHIPS (the US Clearing House Interbank Payments System). He added that the two financial instruments that are "gradually becoming effective tools for the US to exercise global hegemony and carry out widespread jurisdiction control”.

Comments

Post a Comment

Popular posts from this blog

We could fix mobile security, you know. We don't, but we could

Earlier in the week I blogged about mobile banking security , and I said that in design terms it is best to assume that the internet is in the hands of your enemies. In case you think I was exaggerating… The thieves also provided “free” wireless connections in public places to secretly mine users’ personal information. From Gone in minutes: Chinese cybertheft gangs mine smartphones for bank card data | South China Morning Post Personally, I always use an SSL VPN when connected by wifi (even at home!) but I doubt that most people would ever go to this trouble or take the time to configure a VPN and such like. Anyway, the point is that the internet isn’t secure. And actually SMS isn’t much better, which is why it shouldn’t really be used for securing anything as important as home banking. The report also described how gangs stole mobile security codes – which banks automatically send to card holders’ registered mobile phones to verify online transactions – by using either a Trojan...
Post a Comment
Read more