$9.5 billion spent using Chinese central bank's digital currency - official




  • In Business
  • 2021-11-03 09:20:51Z
  • By Reuters
 

HONG KONG (Reuters) - Some 140 million people had opened "wallets" for China's new digital yuan as of October and used it for transactions totalling around 62 billion yuan ($9.7 billion), a senior Chinese central bank official said on Wednesday.

However, Mu Changchun, the director-general of the digital currency institute of the People's Bank of China, told Hong Kong's "Fintech Week" conference there was no official launch date for the digital currency, also known as the e-CNY.

Central banks around the world are looking at developing central bank digital currencies (CBDCs) to modernise their financial systems, ward off competition from cryptocurrencies like bitcoin and speed up domestic and international payments.

China's efforts are among the most advanced globally, and the country has been running various trials and pilot schemes of different payment scenarios since last year.

Mu said so far 1.55 million merchants could accept payments using eCNY wallets, including utilities, catering services, transportation, retail and government services.

($1 = 6.3962 Chinese yuan renminbi)

(Reporting by Alun John; Editing by Mark Potter)

COMMENTS

More Related News

Taiwan archive sheds light on key events in Chiang Ching-kuo
Taiwan archive sheds light on key events in Chiang Ching-kuo's presidency

Taiwan has launched an online archive of written records on the late Chiang Ching-kuo, who was the self-ruled island's president during the volatile era when...

What next for EU ties as
What next for EU ties as 'shocked' Beijing lashes out at Slovenia over Taiwan office plans?

Slovenia's plans to open a Taiwan office looks likely to provoke a "shocked" Beijing into yet another diplomatic spat despite hopes of mending ties with the ...

China
China's Harbin to conduct city-wide COVID tests ahead of long holiday
  • US
  • 2022-01-22 04:55:28Z

China's northeastern city of Harbin will conduct a city-wide exercise to test its roughly 10 million people for COVID-19 from Monday, although it has had no ...

Exclusive-U.S. opposes plans to strengthen World Health Organization
Exclusive-U.S. opposes plans to strengthen World Health Organization
  • US
  • 2022-01-21 18:25:24Z

The United States, the World Health Organization's top donor, is resisting proposals to make the agency more independent, four officials involved in the...

Biden, Japan
Biden, Japan's Kishida vow to 'push back' on China
  • World
  • 2022-01-21 17:54:16Z

US President Joe Biden and Japanese Prime Minister Fumio Kishida agreed to "push back" against China and condemned North Korea's spate of missile tests...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business