Members of the Sansha City government, including their staff, enterprises, and permanent residents, will be the main participants of this trial.
This CBDC trial event will run from April 12 to April 25. It will raise awareness for the digital yuan, promoting safe transactions with broad accessibility. Participants in this trial will get a 15% discount for every 100 yuan spent within the island.
Currently, the digital yuan is in the trial stage within China. It is undergoing pilot trials as a retail CBDC, athough, in the future, the central bank aims to have interoperability with other countries. The PBOC and the Hong Kong Monetary Authority are now testing the digital yuan for cross-border use.
Additionally, PBOC has included the associated banks of digital payment players AliPay and WePay in their trials to increase adoption. Due to this collaboration, users having WeBank and MyBank accounts can now access their funds using the PBOC run CBDC app.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.