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China's digital currency will adopt parallel technical routes and adhere to the model of centralized management by the central bank. It will also adopt a double-tier operating and issuance system, which means it will be issued by the central bank to commercial banks and then distributed by commercial banks to the general public, said Li, who is also former president of the Bank of China Ltd.
China's economy shrank by 6.8 percent year-on-year in the first quarter as the virus outbreak dealt a huge blow to economic activity. While the epidemic has been basically brought under control domestically, economic activities remain on the road to recovery.
China's economic growth slowed to 6.2 percent in the second quarter, its weakest pace in at least 27 years, with demand faltering at home and abroad amid ongoing trade frictions with the United States.
China's insurance sector saw premium income fall 3.33 percent year-on-year to 2.2 trillion yuan (0 billion) in the first half of the year, official data showed.
China's high-end ride hailing company UCAR Technology Inc has led a 2.2 billion yuan investment in the fledging electric carmaker Xpeng Motors, the two announced on Monday.
来源：资阳报