yi gang : speech - hong kong fintech week 2022 speech ( virtual ) by mr yi gang, governor of the people's bank of china, at the hong kong fintech week 2022, hong kong, 31 october 2022. * * * thank you eddie for your kind invitation. distinguished guests, ladies and gentlemen : i am very happy to join you online at the hong kong fintech week 2022. today, i would like to share with you some of my thought on the central bank digital currency, or cbdc. cbdc has attracted growing attention in recent years. according to a bis survey in may, 90 % out of the 81 respondent central banks have started work on cbdc. the research on cbdc can help efficiently satisfy the public's demand for fiat money in the context of digital economy. in july, together with the imf and the world bank, the bis released a joint report entitled cbdc for cross - border payments, shedding light on the role of cbdc in promoting faster, cheaper and more transparent cross - border payments. however, many issues still remain when it comes to cbdc application. in my view, privacy protection is one of the issues top on our agenda. e - cny is china's version of cbdc. it is mainly positioned as cash. for china, e - cny is mainly to meet the needs of domestic retail payment, enhance the development level of inclusive finance, and improve the efficiency of the currency and payment system. in designing e - cny, we try to ensure privacy protection and financial security through byand - large anonymity and managed - anonymity. to this end, e - cny adopts a two - tiered system. at tier one, the pboc supplies e - cny to the authorized operators and processes inter - institutional transaction information only. at tier two, the authorized operators only collect the personal information necessary for their exchange and circulation services to the public. meanwhile, the pboc ensures personal information security through advanced technology and strict management, with full adherence to consumer privacy protection laws and regulations. transaction - related data is encrypted for storage. sensitive consumer information is de - identified to non - transacting parties. entities and individuals are prohibited from arbitrary inquiry or information usage without rigorous legal authorization. what is more, there are small - amount soft wallets and hard wallets to meet the need for small - value anonymous transactions,

wu xiaoling : china and africa as developing countries statement by ms wu xiaoling, deputy governor of the people ’ s bank of china, at the 39th annual meeting of the board of governors of the african development bank ( group ), kampala, 25 - 26 may 2004. * * * mr. chairman, mr. president, fellow governors, ladies and gentlemen, first of all, please kindly allow me, on behalf of the chinese government and the chinese delegation as well as in my own name, to express our thanks to the government of uganda for hosting this annual meeting, which gives us the pleasure of visiting the beautiful city of kampala and receiving the warm hospitality of the ugandan people. our appreciation also goes to the management of the african development bank for their excellent arrangement for the annual meeting. this year marks the 40th anniversary of the founding of the african development bank group. the past 40 years witnessed the unremitting efforts made by the african countries to promote economic development, social progress and poverty alleviation. as the largest multilateral development financial institution in africa, the african development bank has played an important role in this process. i would like to express, on behalf of the chinese government, our respect to the previous and current directors, management personnel and all the staff for their contribution to the development of the bank over the past 40 years, and our appreciation for the important role the bank has played in the economic development of africa. mr. chairman, china is the largest developing country in the world, and africa is the continent with the largest number of developing countries. china and africa have a long history of friendship with very fruitful bilateral cooperation. we not only share similar experiences in the past, but also face a common task of promoting economic development and raising people ’ s living standard in the future. the chinese government pursues independent foreign policy for peace and advocates the establishment of an equitable and fair world order. promoting the friendly cooperative relationship with the developing world including the african countries has always been a fundamental element of china ’ s foreign policy. in october 2000, ministers of china and african countries gathered in beijing and jointly set up the sino - africa cooperation forum, opening a new chapter in the cooperation between china and africa. over the past three years, cooperation, friendship and mutual trust between china and african countries have further strengthened. in the area of bilateral trade and economic cooperation, in 2003, trade between china and african countries reached usd18. 55 billion, an increase of