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Digital Yuan

China trials tax and charge payments with digital yuan
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3 May, 2022

China trials tax and charge payments with digital yuan

The country is now testing the digital yuan—e-CNY—for use in payments of tax, stamp duty, and social security premiums with...
China doubles digital yuan pilots as it targets upcoming Asian Games
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12 April, 2022

China doubles digital yuan pilots as it targets upcoming Asian Games

China’s central bank plans to expand the pilot to Xiamen, Fuzhou, Tianjin, and cities in Zhejiang province, which will be...
China central banker urges for regulatory changes to accommodate digital yuan
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11 March, 2022

China central banker urges for regulatory changes to accommodate digital yuan

An official from Nanjing city wants the law amended to clarify the digital yuan’s position in the payment system, including...
Will China’s digital yuan unseat the US dollar?
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12 January, 2022

Will China’s digital yuan unseat the US dollar?

The U.S. dollar makes up 51% of central bank reserves, while the CNY only takes up 2%. Also, the U.S....
China’s digital yuan wallet launches on app stores for 11 select cities
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6 January, 2022

China’s digital yuan wallet launches on app stores for 11 select cities

The wallet is available for users in Shenzhen, Shanghai, Chengdu, Qingdao, Suzhou and six other cities, as well as those...
China links digital yuan to Hong Kong’s Faster Payments System in second CBDC trial phase
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14 December, 2021

China links digital yuan to Hong Kong’s Faster Payments System in second CBDC trial phase

China has embarked on the second phase of its cross-border central bank digital currency research with Hong Kong, and it...
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