Paper
Rajesh Bansal, Somya Singh
{
"authors": [
"Rajesh Bansal"
],
"type": "legacyinthemedia",
"centerAffiliationAll": "",
"centers": [
"Carnegie Endowment for International Peace",
"Carnegie India"
],
"collections": [],
"englishNewsletterAll": "",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie India",
"programAffiliation": "",
"programs": [],
"projects": [
"Technology and Society"
],
"regions": [
"South Asia",
"India",
"East Asia",
"China"
],
"topics": [
"Economy",
"Technology"
]
}
Source: Getty
In The Media
Watch out RBI, China's Central Bank Digital Currency is here
While the rest of the world is all hands on deck tackling the coronavirus pandemic, China has made a powerful move that might significantly strengthen its geopolitical influence in the global financial space.
Published on Jun 1, 2020
Source: Economic Times
While the rest of the world is all hands on deck tackling the coronavirus pandemic, China has made a powerful move that might significantly strengthen its geopolitical influence in the global financial space. The country is all set to roll out its Central Bank Digital Currency (CBDC) termed Digital Currency or Electronic Payments (DC/EP), making the People’s Bank of China (PBoC) the first major central bank in the world to do so. According to a recent report, China has started pilots for its CBDC in four cities but the official date of the launch has not yet been revealed.
This article was originally published by the Economic Times.
About the Author
Rajesh Bansal
Former Senior Adviser, Carnegie India
Rajesh Bansal was a senior adviser at Carnegie India. His research focuses on financial technologies, particularly electronic payment systems, electronic cash transfers, and digital financial services to enable inclusive development. He leads the center’s technology and society program.
- China’s Digital Yuan: An Alternative to the Dollar-Dominated Financial System
- How Will Digital Currencies Change Wallets?Q&A
Rajesh Bansal, Somya Singh
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
More Work from Carnegie China
- When It Comes to Superpower Geopolitics, Malaysia Is Staunchly NonpartisanCommentary
For Malaysia, the conjunction that works is “and” not “or” when it comes to the United States and China.
Elina Noor
- ASEAN-China Digital Cooperation: Deeper but Clear-Eyed EngagementCommentary
ASEAN needs to determine how to balance perpetuating the benefits of technology cooperation with China while mitigating the risks of getting caught in the crosshairs of U.S.-China gamesmanship.
Elina Noor
- Neither Comrade nor Ally: Decoding Vietnam’s First Army Drill with ChinaCommentary
In July 2025, Vietnam and China held their first joint army drill, a modest but symbolic move reflecting Hanoi’s strategic hedging amid U.S.–China rivalry.
Nguyễn Khắc Giang
- Today’s Rare Earths Conflict Echoes the 1973 Oil Crisis — But It’s Not the SameCommentary
Regulation, not embargo, allows Beijing to shape how other countries and firms adapt to its terms.
Alvin Camba
- How China’s Growth Model Determines Its Climate PerformanceCommentary
Rather than climate ambitions, compatibility with investment and exports is why China supports both green and high-emission technologies.
Mathias Larsen
