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China's digital yuan transactions hit 83B yuan in first 5 months

Economy

Transactions of China's digital fiat currency, the e-CNY, hit 83 billion yuan (about 12.33 billion U.S. dollars) by the end of May this year, the country's central bank said Wednesday.

XinhuaUpdated:  July 14, 2022
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Transactions of China's digital fiat currency, the e-CNY, hit 83 billion yuan (about 12.33 billion U.S. dollars) by the end of May this year, the country's central bank said Wednesday.

A consumer pays in digital yuan (e-CNY) at a department store in southwest China's Chongqing, May 3, 2022. (Xinhua/Huang Wei)

A total of 264 million digital yuan transactions were undertaken during the period, Zou Lan, an official from the People's Bank of China, said at a press conference.

By May 31, nearly 4.57 million commercial outlets were available for digital yuan payments, Zou said.

Zou said that the central bank will further expand the scope of its pilot programs, strengthen pilot scenario construction, and enhance international cooperation.