Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 7th International Conference on Economic Management and Green Development
Series Vol. 33 , 10 November 2023
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Central Bank Digital Currency (CBDC) and Its Potential Impact on the Chinese Economy
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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
- 10 November 2023
- 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