Digital yuan pilots to see expansion

The People's Bank of China, the country's central bank, will expand their digital yuan pilot programs in four regions to cover the entire provinces they belong to at convenient timing, Shanghai Securities News reported.

The digital yuan pilot programs in Shenzhen, Guangdong province, Suzhou, Jiangsu province, Xiong'an New Area, Hebei province and Chengdu, Sichuan province will expand gradually into whole areas of the provinces, Fan Yifei, deputy governor of the PBOC, said at an event on Monday.

The central bank will seek continuous innovation in the application scenarios of the digital yuan, Fan said, adding that feasible application modes of the e-CNY have been established in multiple areas including wholesale, retail, catering and tourism.