China plans to expand the digital yuan pilot programme to more cities in the run-up to the Asian Games in 2022.
China's central bank announced on Saturday that a trial programme for its digital currency will be expanded to new places, including cities in eastern Zhejiang province, which will host the Asian Games later this year.
According to an online statement, the People's Bank of China (PBOC) would promote research and development of the digital currency, nicknamed e-CNY, and expand the scope of the pilot project.
Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities in Zhejiang's coastal province will be added to the existing ten main "pilot" cities to test the use of e-CNY, according to the announcement.
The Asian Games will be held in September in six cities in Zhejiang, including the provincial capital of Hangzhou.
In recent years, the PBOC has increased testing of the digital currency, hoping to use the Beijing Winter Olympics as a platform to promote yuan globalisation.
Beijing's attempt to make an Olympic splash with its digital money, however, was stymied by a COVID 19-induced ban on international spectators. Instead, a captive audience of locals unable to utilise their typical digital payment tools has embraced it.
Beijing and Zhangjiakou, which co-hosted the Winter Games in February, will also be e-CNY test locations, according to the PBOC announcement.
( Details and picture courtesy from Source, the content is auto-generated from RSS feed.)
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