ICBC President Liu Jun on Digital Currencies: Technology Can Only Reinforce Trust, Not Replace It

Odaily reports: Liu Jun, President of Industrial and Commercial Bank of China (ICBC), stated at the inaugural Digital RMB Annual Meeting held during the 2026 Financial Street Forum Annual Conference that technology can only reinforce trust, not replace it. Whether a digital currency can become a currency hinges on how credit is supported and honored, and how responsibility is implemented. If algorithms or pegged assets lack transparent regulation, or if trust is built solely on an impenetrable technological "black box," its credit system cannot be established, and its value foundation will be fragile.

Liu Jun pointed out that digital currencies offer new possibilities for cross-border settlement, but technology cannot create a currency's international status out of thin air—the discourse power of digitally anchored currencies ultimately depends on comprehensive national strength. RMB internationalization requires the introduction of diverse market participants and the establishment of a global regulatory coordination mechanism and regulatory technology that keep pace with the times.