The year was 2014 when China's banking sector shook hands on a private banking 
license deal with the country's Big Tech giants like Alibaba and Tencent among 
others. This is when digital payments system including Alipay and WeChat, was 
born. But little did we know about a digital currency from the People's Bank of 
China (PBoC) that started its trajectory in the same year. 

Also known as the Central Bank Digital Currency (CBDC), it's now tipped to be 
the next digital currency revolution, possibly ushering in the digital payments 
2.0 in China. But why is this important for the world's second largest economy? 
Josh Arslan from China Matters looks into how important it is for the country 
to digitalise its economy and where it is now?

Josh breaks down the next wave of tech developments to understand how it's 
being used in China and how it's impacting the economy and people's lives beset 
by the pandemic.

A digital currency revolution, a digital expo and the building blocks of 
metaverse, is it really the next stage to digitalise China's economy even 
further?

Josh Arslan sits down with the major industry players for a one-on-one to put 
everything into context and asks if 2014 was the start of China's digital 
economy, what can we expect in 2022? 
 

SOURCE: China Matters