Heilongjiang province in northeastern China has joined the bid to compete with 10 other cities to become the next digital yuan pilot city, it announced on Monday.
See related article: E-CNY chief says digital dollar poses no threat to China
Fast facts
- Heilongjiang did not identify the city to be nominated as the bidding trial city.
- The province, however, noted developing a financial hub in capital city Harbin to enhance financial cooperation with Russia.
- Digital yuan historical transactions topped 87.565 billion yuan (US$1.238 billion) as of the end of 2021, and is just coming off the back of its international debut at the now-concluded Winter Olympics.
- Hong Kong is slated to pilot cross-border payments with the digital yuan.
See related article: Hong Kong makes apt testbed for e-CNY cross-border use