ST Deep Dive: Tokenising the renminbi, national service at 55

Here's a round-up of recent commentaries and more by think-tanks in the region and elsewhere that could be of interest to those who watch Asia.

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In late April 2020, China quietly did trials on a digital currency, a sort of state-backed cryptocurrency, in four Chinese cities: Shenzhen, Suzhou, Chengdu and Xiong’an. 

It was backed by the renminbi on a one-to-one basis, and some public servants received a portion of their salaries in the e-renminbi. Participants were able to spend it at selected retailers; McDonald’s and Subway were two big names reportedly involved in the trial.

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