China actively implements digital yuan e-CNY
- April 4, 2022
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The People’s Bank of China said on Saturday that it will expand its digital currency pilot program to more regions, including cities in eastern Zhejiang province, where the
The People’s Bank of China said on Saturday that it will expand its digital currency pilot program to more regions, including cities in eastern Zhejiang province, where the
The People’s Bank of China said on Saturday that it will expand its digital currency pilot program to more regions, including cities in eastern Zhejiang province, where the Asian Games will be held later this year.
According to an official statement, the People’s Bank of China said it will support the research and development of the digital currency called e-CNY and expand the pilot program. Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen and six cities in the coastal province of Zhejiang will be added to the existing 10 major “pilot” cities to test e-CNY usage. Six cities in Zhejiang Province, including the capital of Hangzhou Province, will host the Asian Games in September.
In recent years, the People’s Bank of China has stepped up its digital currency testing and hoped to use the Beijing Winter Olympics as an opportunity to promote the globalization of the yuan. However, other than foreign audiences caused by the COVID-19 pandemic, the plans failed.
In the statement made by the People’s Bank of China, it was stated that Beijing and Zhangjiakou, which hosted the Winter Games in February, will also be e-CNY pilot cities.
Source: Port Altele
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