Dalian announced it is promoting the adoption of e-CNY within one of its districts. More than 90% of government employees in the Gaoxin district, including affiliated institutions, have settled transactions using personal e-CNY wallets.
Fast facts
- The Northeast city of Dalian has been included in the second batch of e-CNY pilot cities since October 2020, along with Shanghai, Hainan, Changsha, Xi’an and Qingdao. In July 2021, Dalian released 36,000 digital yuan red envelopes totaling 1.8 million RMB as a pilot program. Now Dalian accepts digital yuan as payment for electricity bills, social security fees, and storage fees for its commodities futures exchange.
- The Dalian Government also stated that the Gaoxin district is issuing subsidies in the form of digital yuan to government staff.
- The Dalian government said they are building applications to pay party dues, union funds and express-delivery fees via digital yuan. Next, the Gaoxin district will hold events with e-CNY-enabled banks to increase the adoption rate in businesses, shopping malls, communities, campuses, and rural areas.
- China is pioneering the world’s first major central-bank digital currency (CBDC). The electronic Chinese yuan (e-CNY), alternately called the digital yuan, digital renminbi or e-RMB, is issued by China’s central bank, the People’s Bank of China. Many expect China’s CBDC to be formally launched in time for the Beijing Winter Olympics in February.
- Dalian is an important port city located on the Liaodong Peninsula in the northern coastal area of China, across the sea from South Korea.