Digital yuan pilot moves to southern Hainan province
In its latest test, the PBoC has partnered with the Industrial and Commercial Bank of China’s Haikou branch and the Sansha city municipal government.
Latest People's Bank of China News
China’s digital yuan will be private but not anonymous: CBDC lead
The controllable anonymity will protect the central bank digital currency against criminal use and ensure the bank can track all payments the users make, according to a central bank official.
China joins Hong Kong and Thailand in CBDC research project
China and the United Arab Emirates have joined a research initiative that studies the feasibility of a central bank digital currency.
China unveils first digital yuan physical card in Shanghai
Unlike in Shenzhen, Beijing and Suzhou, the People’s Bank of China is expanding beyond the use of smartphones to make digital yuan payments.
Digital yuan not a replacement for the US dollar: ex-PBoC governor
China had learned a lesson from the hostile reception Libra, now Diem, has received globally, according to the former governor of the People’s Bank of China.
Suzhou residents make 20,000 digital yuan transactions on Double 12
Chinese residents in the city of Suzhou made close to 20,000 transactions in a digital yuan trial on e-commerce giant JD.com.
China and Hong Kong working on digital yuan cross-border payments
Hong Kong’s central bank has been working with China’s digital currency institute to trial the use of the digital yuan on cross-border payments.
China to develop new CBDC test zone in Beijing
The PBoC’s Digital Currency Research Institute announced that it was planning to build a ‘legal digital currency test zone’ in Beijing.
PBoC Governor gives DC/EP update
Peoples Bank of China governor Yi Gang gave several announcements regarding the DC/EP at Hong Kong Fintech week–Yi Gang's reports indicate progress.
Shenzhen pilot program highlights potential for digital yuan
The digital yuan is not a digital currency like Bitcoin, but a virtual fiat currency issued and controlled by the People's Bank of China.
China’s new draft law seeks to legalize digital yuan but ban competitors
In a new draft law, the bank proposed banning any yuan-pegged digital tokens, effectively killing off any competitor to its central bank digital currency.
China cracks down on extensive Tether-linked money laundering
The central bank detailed a recent case in which its Huizhou City branch uncovered a cross-border online gambling operation that relied on USDT for funds transfer.