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Bank of China & E-commerce Giant Meituan Strike Digital Yuan Deal
5.9.2023
The Bank of China and the e-commerce heavy-hitter Meituan have signed a digital yuan collaboration deal, with both firms looking to step up their CBDC capabilities.
Per the Securities Times, via Stockstar, the two firms have sealed a “cooperation agreement” that will see them “deepen” their...
Bank of China: Digital yuan payment option must be offered in retail scenarios
4.9.2023
In the short term, the e-commerce platforms can integrate the CBDC through the QR codes
Chinese Bank Uses Digital Yuan Giveaway to Promote Waste Recycling Drive
4.9.2023
A Chinese commercial bank has launched new digital yuan-powered recycling rewards programs, with citizens receiving CBDC tokens in exchange for recycling their waste.
Per Danzong, via Xinhua, the Qingdao Branch of the Bank of Communications has launched a CBDC-powered rewards solution.
The bank...
Likou, China, to Become Digital Yuan ‘Demonstration Town’ – CBDC Adoption Gathers Pace?
1.9.2023
A Chinese town has agreed to become a digital yuan “demonstration town” after striking a CBDC deal with a major, state-run bank.
Per JSChina, the deal was struck in Likou, a town in Siyang County, near the city of Suqian in China’s Jiangsu Province.
The People’s Government of Likou Town...
China Set for Digital Yuan Adoption Drive Ahead of Asian Games
31.8.2023
China is readying a fresh digital yuan adoption push ahead of next month’s Asian Games, with the nation ready to show off its CBDC to a large international audience for the first time.
Citizens in the pilot zones will be able to buy tickets for the event using the central bank’s official CBDC...
China’s JD, ICBC to Launch Digital Yuan Supply Chain Financing Solution
30.8.2023
Chinese firms and commercial banks are working on new digital yuan supply chain financing solutions, with a new CBDC smart contract solution set to launch.
Per CICC (via Cnfol), the latest innovation has been developed by JD Technology, in conjunction with the Industrial and Commercial Bank...
Digital Yuan ‘Spurs Rise in Mainland China-Hong Kong Cross-border Payments’
24.8.2023
The Chinese digital yuan pilot’s spread to Hong Kong may be playing a part in driving up cross-border payments, media outlets have suggested.
Per China Fund News, via the Securities Times, certain types of “cross-border payments” between Mainland China and Hong Kong, as well as the mainland...
China’s Shanghai and Suzhou Ready Fresh CBDC Adoption Drive
18.8.2023
The Chinese cities of Shanghai and Suzhou are eyeing more digital yuan adoption progress as the nation tries to drive up interest in its CBDC.
The central People’s Bank of China (PBoC) recently claimed that almost $250 billion worth of CBDC transactions had been processed in the nation to date....
Tianjin, China, Says It Has Processed $1.76bn Worth of Digital Yuan – CBDC Progressing?
15.8.2023
The Chinese city of Tianjin says residents and businesses transacted a cumulative total of over $1.76bn worth of CBDC since it joined the digital yuan pilot in 2022.
Per Jinyun News, via Enorth, city officials claimed that some 302,000 merchants had processed the aforementioned amount in 14.97...
‘Green Finance’ Options Emerge for China’s Digital Yuan
15.8.2023
More Chinese firms are using the digital yuan, the nation’s central bank digital currency (CBDC), to access funding for “green” business projects.
Per Nanfang Daily News (via SouthCN), an electronics firm in Guangdong Province, Southeast China, became the first company in the province to access...
Rise in Chinese Citizens, Firms Using Digital Yuan to Pay Taxes
10.8.2023
More Chinese citizens and firms are using the digital yuan, China’s central bank digital currency (CBDC), to pay their taxes, state organs, and government-owned banks have claimed.
Per Xinhuanet, the claims were made by Hunan Province’s Tax Bureau, as well as the Changsha Central branch of...
China Minsheng Bank, JD.com Unveil Digital Yuan Collaboration
7.8.2023
China’s Minsheng Bank has announced it is teaming up with the CBDC-keen e-commerce giant JD.com to launch a digital CNY-powered payment service.
Per Shzhidao (via Sohu), Minsheng customers in the CBDC pilot zone are now able to link their bank-issued digital wallets to their JD accounts and make...
Shaoxing, China, Launches Asian Games-themed Digital Yuan Giveaway – CBDC Showcase Planned
26.7.2023
The Chinese city of Shaoxing is planning an Asian Games-themed digital yuan giveaway, as the nation prepares for a major central bank digital currency (CBDC) showcase.
China News Network (via East Money) reported that Shaoxing will issue residents with around $5.6 million worth of digital yuan...
Chinese Bank Launches CBDC Bulk Commodity Clearing Service – Digital Yuan Adoption Accelerates?
26.7.2023
Banks in China are looking to adopt the digital yuan in more of their operations, and have launched the nation’s first central bank digital currency (CBDC)-powered settlement service for bulk commodity spot clearing.
Per JRJ, Industrial Bank, a Fuzhou-based joint-stock commercial bank,...
Chinese Telecoms Firms Growing Increasingly Keen on Digital Yuan
21.7.2023
Chinese telecom operators are growing increasingly keen on digital yuan adoption, a report has claimed, as the CBDC finds new adoption strongholds.
Per EY (via Sohu), the central People’s Bank of China (PBoC) is keen to bring the nation’s biggest operators (the likes of China Telecom and China...
Business Travelers to Buy Tickets with Digital Yuan – China’s CBDC Takes to the Skies
20.7.2023
Chinese business travelers will be able to buy air tickets using the digital yuan, as the nation’s central bank digital currency (CBDC) pilot takes flight.
Per the China Civil Aviation Network, the commercial banking firm China Merchants Bank has co-launched an e-CNY platform with the Civil...
Shenzhen, China: 36m Digital Yuan Wallets Opened So Far – CBDC Pilot Gathers Pace
18.7.2023
The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation’s central bank digital currency (CBDC) pilot breaks new ground.
Per the Shanghai Securities News and the China Securities Network News, the claims were made by the Shenzhen branch...
China’s Changzhou to Give Away Digital Yuan Tokens, Coupons Worth $700k
17.7.2023
The city of Changzhou, China, is set to give away $700,000 worth of digital yuan tokens and coupons before the year is out, as the nation’s central bank digital currency (CBDC) pilot continues.
Per Changzhou Evening News (via JSChina), the city is hoping to boost CBDC spending during an upcoming...
Chinese Central Bank Unveils SIM Card-based Offline CBDC Wallet
12.7.2023
The Chinese central bank has unveiled an offline SIM card-based digital yuan “hard” wallet solution that lets users pay with the central bank digital currency (CBDC) with powered-down phones.
The innovation could eventually allow 2G phone-owning citizens to use their handsets to use the token when...
Chinese Banks Join Beijing’s Efforts to Integrate CBDC With Social Security Cards
6.7.2023
Chinese state-owned banks are set to join efforts to integrate the nation’s central bank digital currency (CBDC), the digital yuan, with government-issued social security cards.
Late last month, the Chinese Ministry of Human Resources and Social Security said it wanted to “explore and promote”...