PBOC to Expand Digital Yuan Trial to Four Whole Provinces

What’s new: China will expand its digital yuan trial program to cover four provinces where regional pilots have been taking place, an official at the People’s Bank of China (PBOC) said.

The e-CNY pilot started in four locations — Shenzhen in Guangdong province, Suzhou in Jiangsu, the Xiong’an New Area in Hebei, and Chengdu in Sichuan — in late 2019. The trial will now be expanded to include those entire provinces, Fan Yifei, a PBOC deputy governor, announced at a digital finance forum in Suzhou on Monday.