Research on the development of digital RMB in China
DOI:
https://doi.org/10.54097/hbem.v20i.12342Keywords:
digital RMB; development; suggestion.Abstract
This study aims to explore the development prospects of China's digital RMB, which will be analyzed in terms of technological realization, policy support, and economic impact. Based on the review of existing literature and data, this paper proposes the following hypothesis: China's digital RMB will realize wide application in the next few years and have a significant impact on domestic and international economies. In addition, this study will also focus on comparisons with digital currency practices in other countries in order to draw on experience and provide useful insights for the development of digital RMB in China.
Downloads
References
Su, C., Lyu, W., & Liu, Y. (2022). The relationship between digital RMB and digital economy in china. arXiv preprint arXiv:2205.14517.
Shen, C. (2022). Digital RMB, RMB Internationalization and Sustainable Development of the International Monetary System. Sustainability, 14(10), 6228.
Tan, L., & Xue, L. (2021). Research on the Development of Digital Currencies under the COVID-19 Epidemic. Procedia Computer Science, 187, 89-96.
Zhang, Y., & Qin, J. (2021, August). Research on the Characteristics & International Influence of Digital RMB£(DCEP)£. In 2021 16th International Conference on Computer Science & Education (ICCSE) (pp. 1091-1096). IEEE.
Han, D. (2021, February). Analysis on risks and Development Countermeasures of Central Bank digital RMB issue. In 2021 International Conference on Public Management and Intelligent Society (PMIS) (pp. 250-254). IEEE.
Li, Z., Yang, C., & Huang, Z. (2022). How does the fintech sector react to signals from central bank digital currencies?. Finance Research Letters, 50, 103308.
Kurien, J., & Geoxavier, B. Y. (2020). The political economy of international finance: a revised roadmap for renminbi internationalization. Yale Journal of International Affairs. Retrieved April, 5(2021), 163-181.
Knoerich, J. (2021). China’s new digital currency: Implications for renminbi internationalization and the US Dollar. The (Near) Future of Central Bank Digital Currencies, 145-166.
Aysan, A. F., & Kayani, F. N. (2022). China's transition to a digital currency does it threaten dollarization?. Asia and the Global Economy, 2(1), 100023.
Louie, B. L., & Wang, M. (2021). China’s forthcoming digital currency: implications for foreign companies and financial institutions in China. Journal of Investment Compliance, 22(2), 195-200.
Huang, Y., & Mayer, M. (2022). Digital currencies, monetary sovereignty, and US–China power competition. Policy & Internet, 14(2), 324-347.
Zhao, Z. (2022, December). Impact of Digital RMB on RMB Internationalization. In 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022) (pp. 837-841). Atlantis Press.
Shen, H. (2018). Building a digital silk road? Situating the internet in China's belt and road initiative. International Journal of Communication, 12, 19.
Chorzempa, M. (2021). Promise and peril of digital money in China. Cato J., 41, 295.
Kurien, J., & Geoxavier, B. Y. (2020). The political economy of international finance: a revised roadmap for renminbi internationalization. Yale Journal of International Affairs. Retrieved April, 5(2021), 163-181.
Boonsta, W. (2022). CBDC and the international position of the euro. SUERF Policy Notes, (269).
Deng, W. R. H. (2021). Negotiating currency internationalization: An infrastructural analysis of the digital RMB.
Zhang, T. (2021, December). Impacts of Digital Currency Electronic Payment (DCEP) on China’s Banking System. In 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) (pp. 3242-3246). Atlantis Press.
Cheney, C. (2019). China’s Digital Silk Road: strategic technological competition and exporting political illiberalism. Issues & Insights, 19.
Alwago, W. O. (2022). Is the Renminbi a Global Currency in the Making? Globalization of Digital yuan. PÉNZÜGYI SZEMLE/PUBLIC FINANCE QUARTERLY, 67(4), 553-566.
Bansal, R., & Singh, S. (2021). China’s digital yuan: an alternative to the dollar-dominated financial system. Cirnegie Endowment ofor Internitionil Peice.
Cai, W. (2022). Determinants of the renminbi anchor effect: From the perspective of the belt and road initiative. International Journal of Finance & Economics, 27(3), 3421-3433.
Dziwok, E. (2021). Digital Currencies and Payment Systems: Chinese Way into Internationalisation of the Renminbi. The Palgrave Handbook of FinTech and Blockchain, 431-444.
Li, Y., Dai, S., & Qiu, J. (2022, January). Analysis and Research on Image Factors of Digital RMB Acceptance Willingness Based on Big Data Analysis Algorithm. In 2022 3rd International Conference on Electronic Communication and Artificial Intelligence (IWECAI) (pp. 232-237). IEEE.
Michelsen, B. (2021). China's Moonshot: How the Introduction of the Digital Renminbi Furthers China's Societal Grip and Threatens the Future of Digital Currencies. U. St. Thomas JL & Pub. Pol'y, 15, 813.
Fossey, E., Harvey, C., McDermott, F., & Davidson, L. (2002). Understanding and evaluating qualitative research. Australian & New Zealand journal of psychiatry, 36(6), 717-732.
Vishnevsky, T., & Beanlands, H. (2004). Qualitative research. Nephrology Nursing Journal, 31(2), 234.
Watson, R. (2015). Quantitative research. Nursing standard, 29(31).
Patten, M. L. (2017). Understanding research methods: An overview of the essentials.
Williams, C. (2007). Research methods. Journal of Business & Economics Research (JBER), 5(3).
Yi, Y. (2022). Application of Blockchain Technology Based on Privacy Data Protection in RMB Internationalization Path. Mobile Information Systems.
Downloads
Published
Issue
Section
License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.






