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  • China resolutely advances opening-up of financial sector: central bank governor

    China has been resolutely pushing forward the opening-up of the financial industry, as part of its efforts to build a moderately prosperous society in all respects, said Yi Gang, governor of the People's Bank of China (PBOC).

    Considering the financial sector as one of the competitive service industries, the PBOC insists on widening market access and removing unnecessary restrictions, Yi wrote in an article published in the China Finance, a PBOC-affiliated magazine.

  • PBOC: Digital RMB and banknotes will coexist for long

    China's digital currency and physical banknotes will coexist for a long time, said a central bank official on Sunday at the Bund Summit in Shanghai.

    Mu Changchun, the head of the People's Bank of China (PBOC)'s digital currency research institute, said, "The central bank will not stop the supply of paper banknotes as long as people still have the demand of using banknotes."