Central Bank: Six more pilot test areas for digital RMB

According to Xinhuanet, Li Bin, director of the Macro Prudential Management Bureau of the People's Bank of China, revealed on April 12 that at the end of 2019, the digital RMB started pilot testing in Shenzhen, Suzhou, Xiongan New Area, Chengdu and the future Winter Olympics. By October 2020, six more pilot test areas were added, including Shanghai, Hainan, Changsha, Xi'an, Qingdao and Dalian. At present, the scope of the digital RMB pilot has been expanded in an orderly manner, and the application scenarios have been gradually enriched. The number of participants, number of transactions, and exchange amount in the digital RMB pilot test are generally small, and the usage scenarios cover multiple fields such as living expenses, catering services, transportation, shopping and consumption. At present, the digital RMB is generally in the pilot testing stage, and there is no timetable for its official launch. (Xinhuanet)