A sign indicating digital yuan, also referred to as e-CNY, in Shanghai. Photo: Reuters
A sign indicating digital yuan, also referred to as e-CNY, in Shanghai. Photo: Reuters

China’s digital currency: e-CNY trials move beyond retail to cover corporate loans for small businesses and tax payments

  • In Suzhou a concrete producer borrowed 1.5 million yuan from the Agricultural Bank of China to pay suppliers in e-CNY: Xinhua Daily
  • The digital currency – officially called Digital Currency Electronic Payment (DCEP) – has also been used in Chongqing municipality for tax purposes

A sign indicating digital yuan, also referred to as e-CNY, in Shanghai. Photo: Reuters
A sign indicating digital yuan, also referred to as e-CNY, in Shanghai. Photo: Reuters
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