China Expands Digital Yuan Trial to Four Provinces: Report
Main page News, China

China plans to expand its trials of digital yuan to four provinces, including Guangdong, the South China Morning Post has learned.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Besides Guangdong, China will expand its trials to Jiangsu, Hebei and Sichuan provinces, said Fan Yifei, the bank’s deputy governor.

Fan added that the number of users and merchants participating in the trials is "steadily growing." However, he declined to provide numbers. At the end of 2021, there were 261 million unique users, participating in the tests. In addition to the new four provinces, the digital yuan is also being tested in more than 20 cities and regions.

China to Expand its Digital Yuan Pilot Scheme

In May, Shenzhen also announced plans to conduct another test of the digital yuan. As part of the tests, the Shenzhen Municipal Commercial Bureau has teamed up with several financial institutions, including the Bank of China, the Agricultural Bank and the ICBC.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error