Professor at the Central Party School: Cryptocurrencies are reshaping the international monetary system; proposes a "dual-engine" Chinese solution.

PANews reported on March 29th that, according to the WeChat official account of the China Party and Government Cadres Forum, Professor Chen Jianqi, Vice Dean of the Institute of International Strategy at the Central Party School (National Academy of Governance), pointed out in an article that in the wave of digital technology reshaping the financial system, cryptocurrencies have evolved from peripheral innovations into a key area of ​​strategic competition among major powers. The rapid development of cryptocurrencies currently provides a new opportunity for the restructuring of the international monetary system. Against the backdrop of the accelerating evolution of the global cryptocurrency landscape, China is implementing a dual-engine development strategy for cryptocurrencies: on the one hand, leveraging Hong Kong's international financial center to conduct stablecoin pilot programs and connect with the international ecosystem; on the other hand, achieving independent innovation through the digital yuan.