The Ministry of Commerce of China has unveiled a list of regions that will participate in a large-scale test of the central bank’s national digital payments system (DCEP) among the general public. This was reported by 8btc.
In addition to Beijing, the tests will involve Hebei Province, the Yangtze River Delta, Guangdong, and a number of cities in the central and western regions. The list also includes cities that hosted the 2022 Winter Olympic Games.
The start dates for the pilot program were not specified in the statement. It is expected that the People’s Bank of China will complete the development of the necessary norms and rules by the end of the year.
Actual DCEP tests in a limited mode began with May subsidy payments to officials in Shenzhen, Suzhou, Chengdu and Xiongan. Later, 19 shops and restaurants joined the tests, including McDonald’s and Starbucks.
In late July the central bank announced it had enlisted 20 large companies to test the digital yuan in real-world conditions. The group included one of the country’s largest ride-hailing aggregators and the Chinese analogue of Delivery Club.
Last week, four of the largest state-owned banks confirmed that they are conducting tests of the DCEP.
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