People's Bank of China Archives

China eyes cross-border trade with Singapore as CBDC nears $250B transactions

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26 July, 2023

China eyes cross-border trade with Singapore as CBDC nears $250B transactions

Apart from integrating a new wave of cross-border functionalities in its digital yuan, China is looking to drive adoption rates...

China expands digital yuan pilot for SME loans to trigger widespread usage

Business

Wahid Pessarlay

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23 May, 2023

China expands digital yuan pilot for SME loans to trigger widespread usage

Banking officials state that relying on CBDCs for SME loans can ensure "the authenticity and credibility of the closed-loop circulation...

China doubles down on digital yuan adoption with new payment scheme

Business

Wahid Pessarlay

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26 April, 2023

China doubles down on digital yuan adoption with new payment scheme

The Chinese city of Changshu is shaping itself as a model for CBDC adoption as it introduces a new payment...

China’s new powerful financial regulator could deal a big blow to digital assets

Business

Steve Kaaru

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14 March, 2023

China’s new powerful financial regulator could deal a big blow to digital assets

The Chinese government wants to consolidate three top insurance and financial regulators into one powerful entity that would also take...

WeChat adds digital yuan to payment platform as People’s Bank of China pushes for wider adoption

Business

Wahid Pessarlay

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11 March, 2023

WeChat adds digital yuan to payment platform as People’s Bank of China pushes for wider adoption

WeChat is lending the central bank a hand to support China's CBDC ambition by integrating the e-CNY in WeChat Pay,...

China’s digital yuan deployed in securities trade for the first time

Business

Wahid Pessarlay

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20 January, 2023

China’s digital yuan deployed in securities trade for the first time

Soochow Securities has become the first Chinese firm to use the digital yuan in securities trading and providing technical and...

People’s Bank of China currency report now includes digital yuan

Business

Wahid Pessarlay

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16 January, 2023

People’s Bank of China currency report now includes digital yuan

Including digital yuan data in the final report is a clear statement of intent by the PBoC to move with...

China’s CBDC wallet utilizes AliPay’s red packets to boost adoption amid stiff competition

Business

Wahid Pessarlay

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2 January, 2023

China’s CBDC wallet utilizes AliPay’s red packets to boost adoption amid stiff competition

To boost CBDC wallet adoption and keep up with the payments industry, the PBoC digitally incorporated China's age-old tradition of...

China’s digital yuan wins big in cross-border pilot but potential pitfalls threaten efforts

Business

Wahid Pessarlay

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1 November, 2022

China’s digital yuan wins big in cross-border pilot but potential pitfalls threaten efforts

China's adoption rates of its digital yuan have soared since its introduction, but privacy concerns and a gloomy economic outlook...

China’s digital yuan crosses $14B mark, becomes most adopted CBDC globally

Business

Wahid Pessarlay

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18 October, 2022

China’s digital yuan crosses $14B mark, becomes most adopted CBDC globally

Amid privacy concerns, there has been a strong adoption of China's digital yuan, with transactions using the virtual currency exceeding...

China expands CBDC testing to 4 new provinces as adoption rates skyrocket

Business

Wahid Pessarlay

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24 September, 2022

China expands CBDC testing to 4 new provinces as adoption rates skyrocket

China is embracing the adoption of its digital yuan, as seen in the record-breaking number of citizens piloting the CBDC,...

In China, cities start piloting e-CNY payment in public transport systems

Business

Wahid Pessarlay

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27 August, 2022

In China, cities start piloting e-CNY payment in public transport systems

China's CBDC adoption is moving ahead as planned, with several cities testing a new electronic payment method that lets users...

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