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All you need to know about e-yuan

China was the first country to introduce coins 2,000 years ago, and again paper currency in the 7th century. Today, China is already way ahead globally in cashless payments and the digital-yuan test will probably fasten that process.

What is e-yuan?

e-yuan is an official digital currency issued by the People’s Bank of China, the central bank. It is an electronic version of notes and coins.

Has e-yuan been officially issued and put into use?

No. e-yuan is on trial in some Chinese cities but hasn’t been officially launched.

Where is e-yuan being piloted?

The first e-yuan test began in late 2019 in Shenzhen, Suzhou, Xiong’an and Chengdu. Shanghai, along with Changsha, Xi’an, Qingdao, Dalian and Hainan Province, was added to the list for China’s pilot program for the digital yuan last October.


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