Economy· August 17, 2026 at 11:15 a.m.
China Increases Participants in Digital Yuan Trial to 30
Key takeaways
- China has expanded its digital yuan trial to include 30 institutions
- The PBOC is working on developing a central bank digital currency (CBDC)
- If successful, the digital yuan could have significant implications for global finance and trade
China has expanded the number of institutions participating in its digital yuan trial from 14 to 30, according to China Daily. The move is part of an ongoing effort by the Chinese government to develop and test a central bank digital currency (CBDC).
The new participants include banks, payment service providers, and other financial institutions. They will join existing partners such as Alipay, Tencent, and UnionPay in testing the digital yuan.
'This move is an important step towards promoting the healthy development of China's digital currency ecosystem,' said a spokesperson for the People's Bank of China (PBOC), the country's central bank.