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This article provides a holistic overview on China’s digital currency, as China is increasingly operating on a cashless basis.

With the advent of Digital Currency Electronic Payment (DCEP or “digital yuan”), this overview provides answers to the following questions: (1) what is China’s digital currency?; (2) what are the laws regulating China’s digital currency?; (3) [What are the] Advantages of a digital currency; (4) What are the key differences between China’s digital currency and other payment methods?; (5) How does China’s digital currency work?; (6) [What is the] Status of the DCEP pilot programs; (7) DCEP and cross-border payment; (8) Transparency, Data Protection, and Cybersecurity; and (9) [What are the] Key implications for foreign businesses and financial institutions in China.

Authors: Betty L. Louie, Partner, Technology Companies Group, Mergers & Acquisitions, and Martha Wang, Associate, Mergers & Acquisitions, Corporate, Orrick

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Region: China
The information in any resource collected in this virtual library should not be construed as legal advice or legal opinion on specific facts and should not be considered representative of the views of its authors, its sponsors, and/or ACC. These resources are not intended as a definitive statement on the subject addressed. Rather, they are intended to serve as a tool providing practical advice and references for the busy in-house practitioner and other readers.
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