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China Plans To Test Digital Yuan In Hong Kong's Greater Bay Area

Emily Mason

Summary: China's digital yuan — a central backed digital currency — will soon be tested in Hong Kong's Greater Bay Area, as reported by local media outlet Southern Daily. China's Greater Bay Area consists of nine cities, including Hong Kong, with a combined population of 69 million people. China plans to transform the Greater Bay Area into a technological ...

China's digital yuan — a central backed digital currency — will soon be tested in Hong Kong's Greater Bay Area, as reported by local media outlet Southern Daily.

China's Greater Bay Area consists of nine cities, including Hong Kong, with a combined population of 69 million people. China plans to transform the Greater Bay Area into a technological economic hub with the digital yuan playing a starring role. 

The move comes as President Xi Jinping is making sweeping plans to insulate China's economy as tensions between the country and the United States grow. 

By Emily Mason

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