The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Bloomberg
The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Bloomberg

China digital currency: push to ‘prudently advance’, improve design of e-yuan, central bank governor says

  • Since the roll-out of a pilot programme of the digital yuan in late 2019, digital yuan transactions have reached 62 billion yuan (US$9.7 billion)
  • About 1.6 million merchants across a wide range of businesses accept China’s central bank digital currency

The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Bloomberg
The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Bloomberg
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