September 24, 2019 / 3:22 AM / 22 days ago

China central bank governor says no timetable to roll out its digital currency

FILE PHOTO: Governor of the People's Bank of China Yi Gang attends a thematic forum of the second Belt and Road Forum for international cooperation in Beijing, China, April 25, 2019. REUTERS/Jason Lee/FIle Photo

BEIJING (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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