Jul 15, 2022 05:44 AM

FINANCE

Industrial Bank Joints Digital Yuan Pilot Program

By Liu Ran and Denise Jia

What’s new: Industrial Bank Co. Ltd. became the 10th bank to join testing of China’s digital currency as the central bank steadily expands its pilot program across the country.

The People’s Bank of China (PBOC) increased the pilot program from 11 cities to 23 regions in 15 provinces and cities, Zou Lan, head of monetary policy at the central bank, said Wednesday at a press conference.

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