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China expands CBDC’s tentacles, Malaysia is HK’s new crypto rival: Asia Express

Published 07/10/2023, 06:36 PM
Updated 07/10/2023, 07:00 PM
China expands CBDC’s tentacles, Malaysia is HK’s new crypto rival: Asia Express

On July 4, Xinhua News Agency, China’s state broadcaster, published a transcript of President Xi Jinping’s address to the Shanghai Cooperation Organisation Summit (SCO). The SCO is one of the world’s largest regional organizations for political, economic and security cooperation, and was established by China and Russia in 2001.

During the speech, President Xi welcomed Iran as a full organisation member, and praised the move for Belarus to join. He also talked up the importance of central bank digital currencies (CBDCs):

Chinese president Xi Jinping during the Shanghai Cooperation Summit (CCTV)
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