From 10 to 23 April 2021, the authorities of the Chinese city of Shenzhen will conduct another test of the digital yuan (DCEP). This was reported by Global Times.
According to the publication, the experiment will be expanded to 500,000 people. The next round will enable more users to form the habit of using the DCEP in everyday life, the media notes.
In October 2020, the first mass testing of the DCEP took place in Shenzhen. During the second experiment, locals conducted nearly 140,000 transactions worth 18.22 million yuan (~$2.8 million). In January 2021, the third phase of trials began.
The 100,000 ‘red envelopes’ distribution experiment also took place in Suzhou. Beijing and Shanghai announced plans to support the testing of the DCEP.
In February 2021, the Agricultural Bank of China branch in the “megacity of the future” Xiong’an in Hebei province developed a hardware wallet for the digital yuan.
In April, the authorities of Hainan province will test the DCEP in the city of Sanya from 12 to 25 April.
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