Changshu, a city in China’s Jiangsu Province It will begin paying government officials in digital yuan from May. It will start with schools, hospitals and government media, according toreport People’s Daily on April 24
More than 26 provinces and cities in China are testing the digital yuan. Also known as e-CNY, part of China’s CBDC initiative, at least 105 mobile apps range from e-commerce to oil and natural gas purchases. Will accept payment by e-CNY, which will be in the app. Financial Services Alipay and WeChat Pay are two of the most popular payment systems in China.
Changshu, with a population of over 1.5 million, was one of the first cities to offer a digital yuan subsidy campaign to government personnel in October 2022, making it one of the top testing grounds for digital yuan. of the country
Salaries are also being paid in digital yuan in other Chinese cities, with government workers in the Chinese city of Taicang starting to receive their salaries in digital yuan from June 2022.
The Chinese government has accelerated the rollout of a number of projects to accelerate China’s CBDC adoption, the report showed. The southern city of the country with a population of more than 17 million had more than 28 million digital wallets at the end of 2022 and had issued more than 570 million yuan ($82.58 million) in consumer subsidies so far this year. 2022
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