1st LD-Writethru: China’s digital yuan transactions hit 83 bln yuan

BEIJING, July 14– China’s digital yuan transactions amounted to 83 billion yuan by the end of May this year amid the country’s push for pilot use of digital currency. A total of 264 million digital yuan transactions had been carried out as of the end of May, Zou Lan, an official from the People’s Bank of China, told a press conference on Wednesday.

BEIJING, July 14 (Xinhua) — China’s digital yuan transactions amounted to 83 billion yuan (about 12.33 billion U.S. dollars) by the end of May this year amid the country’s push for pilot use of digital currency.

A total of 264 million digital yuan transactions had been carried out as of the end of May, Zou Lan, an official from the People’s Bank of China (PBOC), told a press conference on Wednesday.

By May 31, the digital yuan payment service was accessible in nearly 4.57 million commercial outlets, Zou added.

The pilot program of the digital fiat currency, or the e-CNY, has been expanded to 23 places in 15 provincial-level regions.

The PBOC launched e-CNY pilots in Shenzhen, Suzhou, Xiong’an and Chengdu at the end of 2019. More domestic cities later joined the pilot program following its successful operation.

Zou noted that digital currency has played a positive role in promoting consumption, boosting domestic demands and stabilizing economic growth.

The central bank will further expand the scope of its pilot programs, strengthen pilot scenario construction, and enhance international cooperation, Zou added. Enditem

ANA NEWS WIRE Disclaimer:
The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality.
ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.
The ANA platform also contains news and information from third party sources. ANA has sought to procure reliable content from trusted news sources but cannot be held responsible for the accuracy and opinions provided by such sources on the ANA platform or linked sites.
The content provided for on the ANA News Wire platform, both through the ANA news operation and via its third party sources, are for the sole use of authorised subscribers and partners. Unauthorised access to and usage of ANA content will be subject to legal steps. ANA reserves its rights in this regard.
ANA makes every effort to ensure that the website is up and running smoothly at all times, however ANA does not take responsibility for, and will not be held liable for times when the website is temporarily unavailable due to technical issues that are beyond our control.