Former China Securities Regulatory Commission vice chairman, Li Jiange, highlights the U.S.'s strategic adoption of a digital dollar. Li emphasizes that China should accelerate RMB internationalization, boosting its financial stance globally. According to Li Jiange, "we should have a deep understanding of the evolution of the dollar anchor and actively adjust the financial strategy... For China, it should accelerate the internationalization of the RMB, improve the financial market system, and promote the research and development and application of digital currency."
Market responses have been notably reactive, with Li urging Chinese policymakers to adapt swiftly in light of U.S. actions. As these developments unfold, major digital platforms and industry leaders are carefully observing the potential shifts in compliance requirements. For additional context on financial globalization,
