China’s digital currency would be a competitor to existing payment services including Alipay and WeChat Pay, which have so far dominated mobile payments in China. Photo: Simon SongChina’s digital currency would be a competitor to existing payment services including Alipay and WeChat Pay, which have so far dominated mobile payments in China. Photo: Simon Song
China’s digital currency would be a competitor to existing payment services including Alipay and WeChat Pay, which have so far dominated mobile payments in China. Photo: Simon Song

China’s digital currency edges closer with large-scale test by four state-owned banks

  • Bank of China, China Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank of China are working with the People’s Bank of China
  • Chinese ride-hailing giant Didi Chuxing has already entered into a ‘strategic partnership’ with the central bank over the sovereign digital currency plan

Topic |   China digital currency
China’s digital currency would be a competitor to existing payment services including Alipay and WeChat Pay, which have so far dominated mobile payments in China. Photo: Simon SongChina’s digital currency would be a competitor to existing payment services including Alipay and WeChat Pay, which have so far dominated mobile payments in China. Photo: Simon Song
China’s digital currency would be a competitor to existing payment services including Alipay and WeChat Pay, which have so far dominated mobile payments in China. Photo: Simon Song
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