Author(s)

Yundi Zhang

Corresponding Author

Yundi Zhang

ABSTRACT

With the development of science and technology and the rise of industrial digitization, countries worldwide have begun to develop digital currencies in currency circulation vigorously. Considering the impact of COVID-19 on the world market, the development of digital currency ushered in a new opportunity. This article aims to conduct a comprehensive qualitative analysis of China's digital currency (CBDC) by analyzing existing data. This article will use the SWOT model, which mainly provides strong support for the organization’s core decision-making by enumerating the advantages and disadvantages within the organization and the opportunities and threats outside the organization. The data source of this article is the government work report of the People’s Republic of China, which includes the Digital Currency Research Institute of the People’s Bank of China, China Internet Network Research Center, and China Academy of Information and Communications Technology. By analyzing the current situation of China’s digital currency, the author insists that the CBDC has achieved remarkable success and ushered incoming opportunities. However, digital currencies from other countries and private individuals have also brought challenges to digital currencies. Therefore, there is great reference value to systematically and qualitatively analyze the current situation of China’s digital currency through SWOT research methods.

KEYWORDS

Digital Currency, CBDC, SWOT, Fintech