The People's Bank of China adds 8 new digital yuan business operators

Comparatively, in order to implement the decisions and arrangements of the “15th Five-Year Plan” on “the steady development of digital yuan”, further enhance the inclusiveness of digital yuan services, and continuously respond to the public's demand for safe, convenient and efficient digital yuan services, the People's Bank of China added Ping An Bank, Hang Fung Bank, Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Bay Bank to become bank-type digital yuan business operators and connected to the central bank-side digital yuan system.

The new institutions will launch the digital yuan business after completing business and technical preparations. Currently, the number of digital yuan business operators has been expanded to 30. In the next step, the People's Bank of China will promote the expansion of operating institutions in an orderly manner in accordance with the principles of marketization and rule of law, further stimulate the enthusiasm and creativity of market players, and build an open, inclusive, and fair competitive digital yuan development environment.