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Bangkok Post
Bangkok Post
Business

China leads race to become world's top cashless society, says British expert

China Xinhua Cardiff University London
A staff member demonstrates the payment with China's digital yuan, or the e-CNY, during the first Global Digital Trade Expo in Hangzhou, east China's Zhejiang Province, Dec. 12, 2022. (Xinhua/Xu Yu)

LONDON: China is on track to becoming the world's top country for cash-free transactions, Kent Matthews, professor of banking and finance at Cardiff University told Xinhua recently in an exclusive interview.

In China, the proportion of the total amount of money in circulation in the form of cash has dropped to 3.7% and is continuing to fall, said Matthews.

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