More than 2 billion yuan (US$314 million) has been spent by Chinese consumers using the new digital yuan at shops, restaurants and with a select number of online platforms. Photo: SCMP More than 2 billion yuan (US$314 million) has been spent by Chinese consumers using the new digital yuan at shops, restaurants and with a select number of online platforms. Photo: SCMP
More than 2 billion yuan (US$314 million) has been spent by Chinese consumers using the new digital yuan at shops, restaurants and with a select number of online platforms. Photo: SCMP

China’s digital currency trials accelerate, but will users of Alipay, WeChat Pay switch to the new e-yuan?

  • China’s e-yuan is one of the most advanced central bank digital currency initiatives in the world, with over 2 billion yuan (US$314 million) spent so far
  • But China already has an established digital payment system dominated by Alipay and WeChat Pay, potentially slowing its wider adoption

Topic |   China digital currency
More than 2 billion yuan (US$314 million) has been spent by Chinese consumers using the new digital yuan at shops, restaurants and with a select number of online platforms. Photo: SCMP More than 2 billion yuan (US$314 million) has been spent by Chinese consumers using the new digital yuan at shops, restaurants and with a select number of online platforms. Photo: SCMP
More than 2 billion yuan (US$314 million) has been spent by Chinese consumers using the new digital yuan at shops, restaurants and with a select number of online platforms. Photo: SCMP
READ FULL ARTICLE