Digital yuan campaign planned for contested island in the South China Sea

Digital yuan campaign planned for contested island in the South China Sea


South China’s Hainan Province, which administers the prefectural Sansha City on a disputed archipelago in the South China Sea, will run a two-week campaign later this month to promote the use of the digital yuan among island residents.

The city, established in 2012, is on the front line of disputes over territorial claims in the South China Sea and is unusual in being both the People Republic of China’s smallest city by population and its largest by geographic reach — formally encompassing over 280 islands and their surrounding waters, reaching almost 800,000 square miles of sea and land area.

Between April 12 and April 25, the Industrial and Commercial Bank of China’s Hainan Branch, together with Haikou Branch of China’s central bank and the Sansha municipal government, plans to host a themed digital yuan consumption parade in a bid to encourage consumer adoption of the forthcoming digital currency. 

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Official reports herald the event as a temporary transformation of Yongxing Island, where the city’s administrative seat is located,

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