China starts public trials of experimental CBDC
PBoC and Shenzhen local government issue digital yuan to test retail payments
Chinese authorities are conducting the first public trials of its central bank digital currency in the southern city of Shenzhen, local officials told Central Banking.
The Luohu district of Shenzhen has distributed 10 million yuan ($1.5 million) in China’s experimental CBDC as part of broader public trials, local officials said. This marks the first time that the prototype CBDC has been used in retail payments, after “closed pilot tests” began in four cities in April.
The trial system is
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial market infrastructure
Fed releases guidance on third-party services
Fed board warns of possible operational, compliance, financial and strategic risks
RBA report looks at cross-border payments
Multilateral platform would be more scalable than bilateral links, Australian central bank says
Stress-test failures increase banks’ M&A scrutiny, Fed research finds
US lenders’ merger-related activity improves if they have failed tests, authors say
ECB says iPhone is currently incompatible with digital euro
Apple users may have worse digital euro payments experience – Cipollone
RBNZ seeks views on design of ‘digital cash’
New Zealand central bank continues proof-of-concept work on “private and secure” CBDC
Bank of Italy study looks at regulating finance firms’ tech risks
European authorities’ efforts have increased sector’s operational resilience, researchers find
Green bonds have negative premium, Italian study finds
Negative “greenium” widened during Covid-19 pandemic, researchers say
Elections influence bank lending in eurozone, study finds
Bank of Finland research suggests pre-poll uncertainty raises cost of loans
Most read
- BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
- Central banks prepare for the rise of AI
- Central bank of the year: Central Bank of Brazil