China Sets Up New Center in Beijing to Oversee Digital Yuan Operations
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The People’s Bank of China has established a Digital Yuan Operation and Management Center in Beijing, a move designed to strengthen oversight of the digital currency’s core systems and infrastructure, central bank Governor Pan Gongsheng said on Monday.
Speaking at the 2025 Annual Conference of the Financial Street Forum, Pan said the new center will serve as a key engine for advancing the development of the e-CNY while supporting Beijing’s role as the nation’s financial management hub. It follows the September launch of the International Operation Center for Digital Yuan, creating a new pillar in the digital currency’s organizational framework.
Both centers fall under the jurisdiction of the PBOC’s Digital Currency Research Institute. The two entities are expected to operate in tandem — one focused on domestic system development and the other on international applications — to form what Pan described as a “two-winged” architecture supporting the digital yuan’s growth.
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- The People’s Bank of China established a Digital Yuan Operation and Management Center in Beijing to oversee and develop the domestic e-CNY system, complementing its International Operation Center for global adoption.
- By September 2025, the digital yuan saw over 14.2 trillion yuan ($2 trillion) in pilot transactions across 3.3 billion deals and 225 million personal wallets.
- The e-CNY is integrated in multiple sectors and cross-border initiatives, with calls for stronger regulatory and commercial frameworks to support broader use.
- September 2025：
- The International Operation Center for Digital Yuan was launched.
- By the end of September 2025：
- Cumulative digital yuan pilot transactions reached 14.2 trillion yuan ($2 trillion), spanning 3.3 billion transactions, and 225 million personal wallets had been opened via the official e-CNY app.
- As of October 2025：
- The digital yuan was in use in sectors such as retail, dining, tourism, education, health care, and public services.
- As of October 2025：
- The e-CNY was integrated into international initiatives such as the mBridge project and bilateral arrangements via China's cross-border digital payment platform.
- October 28, 2025：
- The People’s Bank of China established the Digital Yuan Operation and Management Center in Beijing, announced by Governor Pan Gongsheng at the 2025 Annual Conference of the Financial Street Forum.
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