August 4, 2021

Central Bank of China is testing digital yuan in bills

According to the Shenzhen Special Zone Dailu State Gazette, China's National Bank is ready to test its digital yuan in international payments.

The Central Bank of China implements a one-daypilotnuyu ppogpammu in pamkax kotopoy otdelnye zhiteli Gonkonga cmogut icpolzovat tsifpovuyu valyutu tsentpalnogo banka (CBDC) for platezhey in cocednem gopode Shenzhen, pacpolozhennom nA gpanitse mezhdu ocobym adminictpativnym payonom and ppovintsiey Guandun yuge Kitaya nA.

Prior to this, testing the digital currency in retailThe payments were passed exclusively on the mainland of China. One in the décor is GONKONG'S BALUET CONTROL, de facto GONKONG'S CENTRAL BANK, made a statement about the "technical pilot performance"

Hong Kong remains the largest offshore yuan market.According to the latest annual report of the NBK on the internationalization of the yuan, in 2019 44.9% of the border payments and shipments were paid in China on January 8.8

It is common that the people of Gongkong whothey regularly visit Shenzhen, they can register a digital wallet with a daily limit of transactions up to 50,000 yuan (about $ 761Z), with a pre-load

Those, who do not have permission, can be used to create a digital wallet of a mobile phone number, but in this case, the daily limit of the connection is

Pilot program meets recentlyChina's published five-year plan. The economic and social development of the country in the period from 2021 to 2025 includes an admission “to steadily promote research and development of digital currency”.

During the next years, politicians are planningExpand CBDC testing in multiple regions, including the Guangdong Gong Kong Macao Great Bay area. The NBK Research Institute for Digital Currency will collaborate with the GONC Office to simplify the transfer of payments on the basis of the payment process