FINANCE

Hong Kong Widens Digital Yuan Use in Retail Payments

Published: Oct. 28, 2025 6:13 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

A pilot program for the digital yuan in Hong Kong was expanded on May 17 to all residents, allowing them to top up their digital wallets through 17 local banks using the city’s Faster Payment System. Photo: VCG

China’s digital yuan is now accepted at hundreds of convenience stores and vending machines in Hong Kong, marking a significant expansion of the e-CNY’s use in everyday consumer transactions.

Starting Monday, more than 380 Circle K stores and an initial batch of 1,200 FreshUp vending machines in the city began supporting e-CNY payments, Bank of China (Hong Kong) Ltd. (BOCHK) announced.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Hong Kong expanded acceptance of China’s digital yuan (e-CNY), now supported at 380+ Circle K stores and 1,200 FreshUp vending machines, with local settlement in HKD.
e-CNY usage in Hong Kong surged over 300% in Q3 as adoption grows among merchants and residents.
Despite growth, e-CNY’s overall scale remains small in Hong Kong; its future as a cross-border payment tool depends on demand.

AI generated, for reference only

Who’s Who

Bank of China (Hong Kong) Ltd.: Bank of China (Hong Kong) Ltd. (BOCHK) announced that over 380 Circle K stores and 1,200 FreshUp vending machines in Hong Kong now accept digital yuan payments. BOCHK upgraded payment systems and converts digital currency to Hong Kong dollars. They are working to expand this service to all of FreshUp's 4,000+ vending machines.

Circle K: Circle K, a well-known convenience store chain, now accepts China's digital yuan (e-CNY) at over 380 locations in Hong Kong. This integration allows both Hong Kong residents and mainland visitors to use the e-CNY for everyday purchases, with transactions automatically converted to Hong Kong dollars for settlement. This initiative expands the digital yuan's presence in high-frequency retail scenarios.

FreshUp: FreshUp vending machines in Hong Kong now accept digital yuan payments. Initially, 1,200 machines will support e-CNY, with plans to expand to all 4,000+ FreshUp machines. This integration is part of a broader effort to promote the cross-border use of the digital yuan, allowing both Hong Kong residents and mainland visitors to make payments.

DBS Bank: Mo Ji, chief economist for the Chinese mainland and Hong Kong at DBS Bank (星展银行), stated that the digital yuan's development has been slower than expected. She noted that while it is a key focus for yuan internationalization, its scale in Hong Kong remains small, and its future as a cross-border payment method depends on actual demand.

AI generated, for reference only

What Happened When

May 2024：: The e-CNY pilot in Hong Kong was expanded to all local residents, making it the first region outside the mainland where every local resident can open a digital yuan wallet.

Third quarter of 2024：: The volume and value of e-CNY transactions in Hong Kong each surged more than 300% from the previous quarter as BOCHK expanded its merchant acquiring services.

October 2024：: Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui, stated that authorities are exploring more use cases for e-CNY and discussing wallet upgrades to raise spending limits.