{"id":81610,"date":"2023-07-12T14:35:16","date_gmt":"2023-07-12T11:35:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81610"},"modified":"2025-09-11T23:58:05","modified_gmt":"2025-09-11T20:58:05","slug":"chinese-bank-begins-testing-offline-payments-for-the-digital-yuan","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/chinese-bank-begins-testing-offline-payments-for-the-digital-yuan\/","title":{"rendered":"Chinese bank begins testing offline payments for the digital yuan"},"content":{"rendered":"<p>One of China&#8217;s largest state-owned banks, Bank of China, <a href=\"https:\/\/mp.weixin.qq.com\/s\/Il2p2rKE116xMh97Ml0wQg\">is testing<\/a> a new offline method for paying with the digital yuan (e-CNY) linked to SIM cards.<\/p>\n<p>As part of the initiative, the institution has partnered with telecom operators China Telecom and China Unicom.<\/p>\n<p>Users will be able to make payments by linking the national digital currency app to SIM cards equipped with <span data-descr=\"Near Field Communication \u2014 short-range wireless data transfer technology\" class=\"old_tooltip\">NFC<\/span> technology. This means payments can be processed even when the device is switched off.<\/p>\n<p>Initially, the feature will be available on Android phones and only in certain regions of China.<\/p>\n<p>The PRC has been testing the digital yuan for three years. By the end of 2021, the volume of e-CNY <a href=\"https:\/\/forklog.com\/en\/news\/china-to-expand-digital-yuan-testing-program\">reached<\/a> 87.57 billion yuan (~$13.68 billion), with 261 million unique digital wallets registered.<\/p>\n<p>Trials were conducted in Shenzhen, Suzhou, Xunyane, Chengdu, Shanghai, Hainan, Changsha, Xi&#8217;an, Qingdao, Dalian and the Olympic zones. The aforementioned cities will continue to use the instrument.<\/p>\n<p>In April 2022, former head of the People\u2019s Bank of China Zhou Xiaochuan noted that e-CNY is primarily <a href=\"https:\/\/forklog.com\/en\/news\/former-chinese-central-bank-chief-sees-no-threat-to-swift-or-other-currencies-from-the-digital-yuan\">intended for the general public and merchants<\/a>, and not to replace SWIFT or &#8220;turn the currency into a weapon&#8221;.<\/p>\n<p>Since May 2023, government employees in Changshu have begun receiving salaries in the digital yuan.<\/p>\n<p>In July, the authorities of the city of Jinan <a href=\"https:\/\/forklog.com\/en\/news\/jinan-adopts-digital-yuan-for-transit-fares\">implemented<\/a> the ability to pay fares with digital yuan on all bus routes and launched a program to incentivize the use of the technology.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of China&#8217;s largest state-owned banks, Bank of China, is testing a new offline method for paying with the digital yuan (e-CNY) linked to SIM cards.<\/p>\n","protected":false},"author":1,"featured_media":81611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1369],"class_list":["post-81610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81610"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81610\/revisions"}],"predecessor-version":[{"id":81612,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81610\/revisions\/81612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81611"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}