China Plans to Expand Digital Yuan Testing to Four Provinces

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The deputy governor of the Central Bank of China, Fan Yifei, has said that the Chinese provinces of Sichuan, Hebei, Jiangsu and Guangdong will start testing the digital yuan.

According to him, the program is an “essential infrastructure for the digital age.” However, he has not specifed the timing of expanding the geography of testing.

China has been testing the digital yuan for three years now. At the end of last year, the volume of transactions with e-CNY reached 87.57 billion yuan and 261 million unique digital wallets were registered.

The tests took place in Shenzhen, Suzhou, Xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian and the Winter Olympic Games area, which will continue to use the tool.

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