September 24, 2019 / 3:25 AM / a month ago

China governor says no timetable to roll out its digital currency

BEIJING, Sept 24 (Reuters) - China’s central bank does not have a timetable for rolling out its digital currency, the governor Yi Gang said on Tuesday, adding that the currency would need to meet regulatory requirements including those on anti-money laundering.

In a briefing ahead of the 70th anniversary of the People’s Republic of China, Yi also said financing costs for small firms have significantly declined this year.

Separately, Liu Kun, the country’s finance minister, said during the same briefing that authorities aim to allocate proceeds from local government bonds to projects by the end of October.

Reporting by Kevin Yao Editing by Shri Navaratnam

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