China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year.
Government to Increase Digital Yuan Coverage in 4 Provinces of China
Chinese authorities are going to expand the digital yuan’s area of application in four of the first pilot cities in the project to the rest of their respective provinces. These are Shenzhen in South China’s Guangdong Province, Suzhou in the eastern Jiangsu Province, Xiongan New Area in Hebei Province in the north, and Chengdu in Southwest China’s Sichuan Province.
With the upgrade to province-wide testing in these regions,