Former China central banker says ‘digital yuan usage is at a low’

A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed frustration that China’s digital yuan is seeing little use.

Xie Ping, a former research director of the PBOC and now a professor of finance at Tsinghua University, has made critical public comments on China’s central bank digital currency (CBDC) at a recent university conference, according to Caixin December 28 report.