{"id":31589,"date":"2020-11-11T11:58:42","date_gmt":"2020-11-11T09:58:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31589"},"modified":"2025-08-28T04:26:05","modified_gmt":"2025-08-28T01:26:05","slug":"media-beijing-to-run-a-citywide-test-of-the-digital-yuan","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-beijing-to-run-a-citywide-test-of-the-digital-yuan\/","title":{"rendered":"Media: Beijing to run a citywide test of the digital yuan"},"content":{"rendered":"<p>The residents of Beijing will take part in a major test of the digital yuan being developed by the People&#8217;s Bank of China. The report, <a href=\\\"https:\/\/news.8btc.com\/pboc-plans-on-building-a-legal-dcep-test-zone-in-beijing\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">says<\/a> 8btc, citing local media.<!--more--><\/p>\n<p>The citywide pilot project to test the digital currency will be similar to the Shenzhen programme that took place in October.<\/p>\n<p>The Institute of Digital Currency Research under the People&#8217;s Bank of China will establish dedicated \u201ctesting zones\u201d in the city.<\/p>\n<p>No further details are provided in the publication.<\/p>\n<p>The initiative has already been discussed by the Beijing Financial Supervisory Administration and the Tongzhou District Administration as part of the so-called \u201cTwo-Zone\u201d policy.<\/p>\n<p>The package of measures aimed at developing the Chinese capital as a major financial centre includes payment clearing, credit ratings, asset transactions, and data management. The authorities note that blockchain will play a significant role in these initiatives.<\/p>\n<p>In October, Shenzhen authorities first <a href=\"https:\/\/u1f987.com\/en\/news\/digital-yuan-airdrop-drew-nearly-2-million-people\">distributed<\/a> the digital yuan among residents. Applications for one of the 50,000 \u201cred envelopes\u201d were submitted by nearly 2 million people.<\/p>\n<p>Since the start of the testing, the payment system based on the digital yuan <a href=\"https:\/\/u1f987.com\/en\/news\/china-to-test-the-digital-yuan-in-large-scale-commercial-transactions\">processed<\/a> 3.13 million transactions totaling 1.1 billion yuan (~$162 million).<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 all the latest news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important News and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beijing residents will take part in a major test of the digital yuan being developed by the People&#8217;s Bank of China. 8btc reports, citing local media.<\/p>\n","protected":false},"author":1,"featured_media":31590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133],"class_list":["post-31589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31589"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31589\/revisions"}],"predecessor-version":[{"id":31591,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31589\/revisions\/31591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31590"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}