China hits a milestone in its digital yuan development as it opens its first business and industrial park in the city of Shenzhen.
$13.7 million has been allocated to promote the facilitation of its payment solutions across multiple industries. 
China’s Central Bank Digital Currency also called the digital yuan has been in development since 2014 and is meant to provide opportunities for economic influence abroad while providing an option to its fragile financial system.
According to reports, it will be valued the same as the standard renminbi (RMB). FPRI Fellow Bob Murray has explained that CBDC makes transactions faster, cheaper, and more secure and would function the same as withdrawing money from the ATM. 
According to the latest update, China has opened its first business and industrial park in the city of Shenzhen to promote the digital yuan. The city of Shenzhen is known as a global center for technology, manufacturing, and finance in the Chinese Guangdong province.
The ind

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