Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 33 , 10 November 2023


Open Access | Article

Central Bank Digital Currency (CBDC) and Its Potential Impact on the Chinese Economy

Haoguo Cheng * 1
1 Southwestern University of Finance and Economics

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 33, 121-127
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Haoguo Cheng. Central Bank Digital Currency (CBDC) and Its Potential Impact on the Chinese Economy. AEMPS (2023) Vol. 33: 121-127. DOI: 10.54254/2754-1169/33/20231646.

Abstract

Digital Gold Currency first appeared on the market in 1996, a digital currency designed based on gold quality. Still, the disadvantage of digital gold currency is that it has no cryptographic protection, and the security needs to be better. Nowadays, with the development of technology, more and more governments have started to study and use digital currencies, which benefits the economic market. This paper focuses on the central bank digital currencies issued in China, combining the current situation and characteristics of the Chinese economic market and the technical characteristics of CBDC, and analyzes the possible impact of CBDC issuance in China on the economic market. The analysis shows that CBDC will benefit the Chinese economic market by accelerating financial inclusion, eliminating the IT gap, reducing government spending, and providing the government with more tools to regulate the economy. The findings can offer strategic insights to the Chinese government or relevant researchers.

Keywords

CBDC, Chinese economic market, digital currency

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-087-5
ISBN (Online)
978-1-83558-088-2
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/33/20231646
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated