Digital yuan transactions in China’s Fujian Province have now surpassed $22 billion, as the country’s central bank continues to promote its digital currency, with almost $14.5 million in commercial spending by citizens. Over 2,500 merchants and vendors in the province now accept digital payments, including toll booths on the Fuxia Expressway; furthermore, e-CNY “tax payment points” have been installed in unmanned “electronic tax bureaus” and banks throughout the region. Fujian has already conducted the nation’s first digital yuan land transfer and issued relief loans while also purchasing carbon sinks as part of environmental improvement efforts. Going forward, Fujian plans to focus on using the CBDC in “smart contracts and supply chain financing.”
