xi's moments
Home | Finance

Digital yuan in circulation hits 13.61 bln yuan in 2022

Xinhua | Updated: 2023-01-25 11:03

Visitors pay via e-CNY during an expo in Wuzhen, Zhejiang province. [Photo/CHINA DAILY]

BEIJING -- The amount of digital yuan in circulation reached 13.61 billion yuan (about $2.01 billion) by the end of 2022, data from the country's central bank showed.

With the digital currency included, China's outstanding M0, the amount of cash in circulation, totaled 10.47 trillion yuan by the end of last year, up 15.3 percent year on year, according to the People's Bank of China.

As a digital form legal tender, digital yuan is a component of Chinese currency, just like the physical renminbi. It is necessary to combine the statistics and analysis as well as implementing overall management of the two forms of the currency, said Xuan Changneng, vice governor of the bank.

With application scenarios, transaction value and amount of digital yuan increasing steadily in recent years, relative management and calculation systems have improved, Xuan said.

The inclusion of digital yuan in M0 can reflect the scale of currency in circulation in a more accurate way, he added.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349