Duan Jin-Chuan

Duan Jin-Chuan

Executive Director, Asian Institute of Digital Finance, NUS

Prof Duan is the Jardine Cycle & Carriage Professor of Finance and the Executive Director of the Asian Institute of Digital Finance at the National University of Singapore (NUS). He was the director of the Risk Management Institute, and co-founded CriAT, a FinTech company specialising in deep credit analytical solutions for financial institutions.

China's official app for digital yuan is seen on a mobile phone next to 100-yuan banknotes in this illustration picture taken 16 October 2020. (Florence Lo/REUTERS)

Will China's digital currency accelerate the internationalisation of the RMB?

Some are of the opinion that an e-RMB will encourage the internationalisation of the RMB as a major global currency. NUS academic Duan Jin-Chuan argues that whether the RMB is digitalised or not is not the key issue; internationalisation of the RMB really depends on demand for and attractiveness of the RMB as a trading and value storage tool.