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Insiders say China plans to launch renminbi-backed stablecoins in an effort to combat the U.S. dollar. However, the launch is held back by capital outflow concerns. Summary China has reportedly begun testing renminbi-backed stablecoins.Stablecoin plans have been hindered by growing concerns over the nations financial control and fears of potential misuse. In a recent article by the Financial Times, its been revealed that Chinese officials have zeroed-in on stablecoin