{"id":32900,"date":"2020-12-06T15:41:01","date_gmt":"2020-12-06T13:41:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32900"},"modified":"2025-08-28T11:03:19","modified_gmt":"2025-08-28T08:03:19","slug":"internet-giant-jd-com-to-join-digital-yuan-pilot-testing","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/internet-giant-jd-com-to-join-digital-yuan-pilot-testing\/","title":{"rendered":"Internet giant JD.com to join digital yuan pilot testing"},"content":{"rendered":"

The second-largest online retailer by turnover in China, JD.com, will be the first among the country’s e-commerce hubs to deploy the digital yuan, Bloomberg<\/a> reports.<\/p>\n

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JD Digits, the fintech arm of the online commerce giant, will launch a pilot programme by year-end, allowing customers to pay for certain goods in the digital currency.<\/p>\n

JD Digits will also assist the People’s Bank of China and local authorities in implementing the digital yuan distribution project<\/a> among residents of Suzhou in the form of 100,000 “red envelopes” on December 11.<\/p>\n

In October, a similar lottery took place<\/a> in Shenzhen, where 50,000 residents won 200 yuan each (about $29.5).<\/p>\n

Earlier, People’s Bank of China governor Yi Gang stated<\/a> that users completed more than 4 million transactions in the digital yuan as part of the pilot program rolled out in four cities. The total value of payments in the digital currency exceeded 2 billion yuan.<\/p>\n

In April 2020 the regulator confirmed for the first time the start of testing of the digital yuan-based payment system (DCEP), although reports had appeared in December of the previous year.<\/p>\n

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How China managed to become a leader in monetary innovation thanks to the digital yuan (DCEP)<\/a><\/p>\n<\/blockquote>\n