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Cover Story: The Challenges Ahead for China’s Digital Yuan

By Liu Ran, Wu Xiaomeng and Denise Jia
2022年08月15日 05:50
In its push to accelerate the e-CNY, the central bank faces big outlays for technology and processing capacity and the need for a robust regulatory infrastructure

In three years of experiments, China’s central bank has made significant progress in developing its central currency.

Total transactions since late 2019 reached 83 billion yuan ($12.3 billion) as of the end of May. Nearly 4.6 million merchants across China have come to accept the digital yuan, known as the e-CNY, as payment. People have used it for shopping, dining, personal finance and business uses such as paying taxes and employees.

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