Faculty of Business Administration
China´s Digital Yuan: Analysis and Opportunities for the Greater Bay Area
Dr. Oriol CAUDEVILLA
Management & Strategy Consultant and Researcher
Date: 3 March 2021 (Wednesday)
Time: 15:00 (GMT+8 Macau time)
Last April, after several years of work (the research commenced in 2014), the Chinese Government announced the starting of the tests of the country’s central bank digital currency (CBDC), DCEP (Digital Currency Electronic Payment) or Digital Yuan, in four major cities (Shenzhen, Suzhou, Chengdu and Xiong’an), notwithstanding the COVID-19 pandemic. On August 14, China took a step further: its Ministry of Commerce announced that a pilot run of the country’s CBDC would begin in several new areas very soon, the Greater Bay Area (GBA) among them, which includes the two Special Administrative Regions of Hong Kong and Macau. Thus far, the tests in the Mainland have proven to be very successful.
Even though, according to a report published by the Bank of International Settlements (BIS) in early 2020, 80% of Central Banks in the world are currently working on CBDCs (some are just at an initial research stage, though), Asia seems to be the place where CBDCs arouse more interest. In this sense, the major economy leading the CBDC race in Asia (and in the whole world) is China. In this seminar, it will analyze what opportunities the Digital Yuan will offer to Mainland China, but also to Macau and to the rest of the Greater Bay Area.
Oriol works as a Management Consultant at AirHelp, Advisor for a Hong Kong-based FinTech company, ixFintech, Strategic Advisor at a Hong Kong-based WealthTech company, ETFCool, Strategic Advisor at ScallopX and FinTech Mentor at F10 Incubator & Accelerator, Singapore.
Oriol is member of the Blockchain, Digital Banking and Greater Bay Area Committees at the Fintech Association of Hong Kong (FTAHK), as well as the Singapore Fintech Association (SFA).
He is Fellow at the Digital Euro Association (D€A) and at the Singapore University of Social Sciences (SUSS). Furthermore, he publishes articles in several media, including China Daily (both the Global and Hong Kong Edition) and Macau Business. He has given talks and seminars on the Chinese Financial System, Central Bank Digital Currencies and the Digital Yuan in several universities in Hong Kong and Macau, as well as in international conferences, like the recent Israel/UAE Fintech Week and the Future of Fintech Saudi Arabia event.