China needs to become the first country to issue digital currency, says PBOC

China needs to have a first-mover advantage in the digital currency race, the People's Bank of China (PBOC), the country's central bank, has said.

In an article published on the weekend in China Finance, a magazine run by the PBOC, the central bank said China needs to break U.S. dollar dominance and internationalize yuan. Reuters first reported the news.