technology

China expands demo digital yuan scheme from cities ahead of Asian Games


China’s central bank scheme on Saturday will work on a pilot scheme bought through its schedule in the eastern province of Zhejiang, which is scheduled to host the Asian Games later this year.

The People’s Bank of China (PBOC) said it would boost research and development of the digital currency, dubbed e-CNY, and expand the scope of activity, an online statement showed.

Addition of Tianjin, Chongqing, Snacks, Fuzhou, Xiamen and six cities in coastal Zhejiang Province to the pilot cities.

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The Chinese statement also said the Chinese people that Beijing and Zhangjiakou, which co-hosted the Winter Games in February, would also become model cities for the Chinese electronic yuan.

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