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China Moves Forward With Digital Yuan At The Regional Level, New Cities Prepare For Trials
Summary: Two government bodies presiding over Beijing noted that the People’s Bank of China (PBoC) Digital Currency Research Institute is planning on creating a legal digital currency test zone and digital financial system in the nation's capitol during a conference on Monday. The Beijing Local Financial Supervision and Administration and the Tongzhou District government expressed support for ...
Two government bodies presiding over Beijing noted that the People’s Bank of China (PBoC) Digital Currency Research Institute is planning on creating a legal digital currency test zone and digital financial system in the nation's capitol during a conference on Monday.
The Beijing Local Financial Supervision and Administration and the Tongzhou District government expressed support for the “China (Beijing) Pilot Free Trade Zone Overall Plan" which would bring a central bank digital currency test zone and digital financial system to Beijing. The mention of the project at the municipal conference demonstrates that the nation is moving forward with planning for a digital yuan at the regional level.
The digital yuan is already being trialed in Shenzhen and additional trials are expected in northern China including the coastal city Tianjin and Hebei Province and the city cluster in the Yangtze River delta region including Shanghai, as reported by Bloomberg.
By Emily Mason
Tags: CBDC,Central Bank Digital Currency,China,Digital Yuan
Link: China Moves Forward With Digital Yuan At The Regional Level, New Cities Prepare For Trials [Copy]
