Yi Gang, the governor of the Peoples Bank of China, asserted that China will continue to advance the development of its central bank digital currency and improve its design. China has always been a front-runner in the global race to launch central bank digital currencies (CBDC) and is testing a digital yuan or eCNY. The governor also aims at improving eCNY’s privacy protection and anti-counterfeiting feature and increasing its interoperability with existing payments tools.