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People’s Bank of China

China’s digital yuan wins big in cross-border pilot but potential pitfalls threaten efforts

Wahid Pessarlay

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1 November, 2022

China’s digital yuan wins big in cross-border pilot but potential pitfalls threaten efforts

China's adoption rates of its digital yuan have soared since its introduction, but privacy concerns and a gloomy economic outlook...

China’s digital yuan crosses $14B mark, becomes most adopted CBDC globally

Wahid Pessarlay

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18 October, 2022

China’s digital yuan crosses $14B mark, becomes most adopted CBDC globally

Amid privacy concerns, there has been a strong adoption of China's digital yuan, with transactions using the virtual currency exceeding...

China expands CBDC testing to 4 new provinces as adoption rates skyrocket

Wahid Pessarlay

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24 September, 2022

China expands CBDC testing to 4 new provinces as adoption rates skyrocket

China is embracing the adoption of its digital yuan, as seen in the record-breaking number of citizens piloting the CBDC,...

In China, cities start piloting e-CNY payment in public transport systems

Wahid Pessarlay

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27 August, 2022

In China, cities start piloting e-CNY payment in public transport systems

China's CBDC adoption is moving ahead as planned, with several cities testing a new electronic payment method that lets users...

PBoC to onboard more provinces and cities to China’s CBDC platform

Wahid Pessarlay

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19 July, 2022

PBoC to onboard more provinces and cities to China’s CBDC platform

Lan Zhou noted that the CBDC had an impressive level of adoption across the test sites—citing that as of May,...

China trials tax and charge payments with digital yuan

Wahid Pessarlay

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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...

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