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Nalezeno "digital yuan": 567

China’s Shenzhen Launches Digital Yuan Industrial Park


A group of Chinese firms will move into a CBDC-themed “digital yuan industrial park.” Per the Shanghai Securities News and the Securities Times, the Southeastern city of Shenzhen held an “official launching ceremony” for its “first digital yuan industrial park” on the morning of October 11. The...

Rise in Chinese Banks Issuing Digital Yuan Corporate Loans


More Chinese banks are issuing loans in the digital yuan, the nation’s central bank digital currency (CBDC), as e-CNY corporate financing options diversify. Per Nanhai Net (via Hainan News), the latest development has taken place on the island province of Hainan, in the city of Sanya.... Read...

China Says Overseas Visitors Are Using e-CNY, Paying More Salaries with CBDC


Chinese officials say uptake for the digital yuan is rising among overseas visitors – while more citizens are receiving their salaries in CBDC wallets. Per the Hangzhou Daily, state-run banks in the Hangzhou Asian Games Village “welcomed delegations [athletes and coaches]” from across Asia...

Digital Yuan Giveaways Driving Adoption, Chinese Central Bank Claims


The Chinese central bank has claimed that its program of digital yuan giveaways is helping to drive up CBDC adoption. According to the state-run newspaper the People’s Daily, the Digital Currency Research Institute, the central People’s Bank of China (PBoC)’s dedicated digital yuan arm,...

China Connects Digital Yuan to Hong Kong’s Fast Payment System


China has taken another step forward in its digital yuan pilot – connecting its CBDC platform to Hong Kong’s Fast Payment System (FPS). The move will speed up cross-border digital yuan transactions and boost interoperability between the Mainland’s CBDC and international payment networks. The...

China Uses Digital Yuan to Recycle Gold, Pay Land Registry Fees


Chinese firms, banks, and city governments are using the digital yuan to recycle gold and pay land registry fees as CBDC adoption efforts continue. Per the fiance-focused media outlet JRJ, the Shenzhen Branch of the central People’s Bank of China (PBoC) has teamed up with the Shanghai Gold...

Chinese Tech Giant Tencent Joins CBDC Interoperability Pilot


China’s Tencent, the operator of the WeChat and WeChat Pay platforms, will join central bank-led digital yuan and CBDC interoperability pilots. WeChatPay, along with its rival Alipay, has cornered some 15% of the Chinese payments market. But in recent years, Tencent has moved to align with...

Foreign Travelers Can Now Use China’s Digital Yuan App


Visitors to China can now buy digital yuan tokens with overseas cards via the central bank’s official CBDC mobile app. Per the China Business News, via Yicai, the bank has updated its app to allow visitors to China “to download the digital yuan app from app marketplaces.” The platform has been...

Chinese Banks, Firms Make Digital Yuan Smart Contract Progress


Chinese banks and businesses want to step up their use of digital yuan-powered smart contracts, as the financial and industrial sectors eye CBDC progress. Per the Securities Times (via Stockstar), the state-run Postal Savings Bank of China has “officially” co-launched the nation’s first...

Chinese “Super SIM” Cards to Feature New Digital Yuan Functions


New Chinese “Super SIM” cards will function as digital yuan wallets, smartcards, and ID cards as the nation’s CBDC pilot continues. Chinese mobile operators such as China Mobile have been working on so-called “Super SIM” offerings since 2016. They have added a range of functionality to the cards...

Almost 490,000 Vendors in China’s Changsha Accept Digital Yuan Payments


Nearly 490,000 vendors in China’s Changsha now accept digital yuan payments, the city’s government has claimed as the nation’s CBDC pilot continues. Per the Changsha Evening News (via Huasheng Online), this year has seen Changsha expand its digital yuan use-case scenarios “into key areas such...

Shenzhen, China, Prepares Fresh CBDC Giveaway


Shenzhen, China, is readying a new digital yuan giveaway as the city looks to showcase the CBDC at a range of upcoming sporting events. Per Shanghai Securities News, the city is set to hand out e-CNY tokens to some 50,000 citizens as part of its latest adoption drive. The coins will...

Chinese Central Bank Updates Digital Yuan App – Here’s the Latest


The Chinese central bank has updated its digital yuan app, adding new CBDC-powered features, “service” options, and utilities bill payment functions. The central People’s Bank of China (PBoC) released its mobile app in early 2022. It followed up with a major update at the end of last year. Per...

More Chinese Firms Paying Workers in Digital Yuan


More Chinese companies are using the digital yuan to pay their workers, as Beijing looks to spur the adoption of its CBDC. Per the Huizhou Daily, the latest firm to trial paying staff in CBDC is a state-run bureau, a body that overseas finances at the Zhongkai High-tech Industrial Development...

Hong Kong Widens Testing of China's Digital Yuan to Additional Banks


Hong Kong has entered the second phase of technical testing for China's digital yuan, expanding the trial to include more Hong Kong banks.  The Hong Kong Monetary Authority (HKMA) and the People's Bank of China have completed initial technical tests for cross-border payments using the digital yuan...

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