China's central bank expands digital yuan trials to more cities

China is expanding its digital yuan trials to more cities, according to the Asian giant’s central bank. 

Currently, the digital yuan trials are going on in 11 cities, and the central bank is planning to roll out the digitization trials in more regions. 

The People’s Bank of China said the ongoing process of digitization trials will now focus on privacy protection and crime prevention. 

According to a Bloomberg report, digital yuan trials were carried out in Shenzhen, Suzhou, Xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian, and the closed-loop of the 2022 Winter Olympic Games.

Now, the bank is planning to expand the trials to Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, Hangzhou, Ningbo, Wenzhou, Huzhou, Shaoxing and Jinhua.