Zhu Guangyao, China’s former vice minister of finance, said at a forum in Beijing that crypto is a “crucial aspect” of the development of the digital economy.
Zhu made these remarks despite China’s ongoing ban on crypto trading and mining on the mainland.
Zhu said during a roundtable discussion at a finance and economic forum in Beijing on Saturday that cryptocurrencies indeed have negative impacts and “we must fully recognize their risks and the harm they pose to capital markets.”
“However, we must also study the latest international developments and policy adjustments, particularly the influence of U.S. bipartisan policies, as this is a crucial aspect for the development of the entire digital economy,” Zhu added.
Zhu made the remarks at the Tsinghua PBCSF Chief Economists Forum, a widely watched event that gathered prominent economists, researchers and former Chinese government officials.