Coinspeaker
China Recognizes Digital Yuan in Cash Circulation Data
For the first time, China included the digital yuan while calculating the amount of currency in circulation in December. This is significant to the country and the early adopters of the central bank digital currency.
History will also recognize China as one of the first countries to develop its central bank digital currency. The country also conducted pilot tests and trials toward the launch of its digital yuan. It continually expands its use and adoption, launching an e-CNY payment on public transport. As of August 2022, the digital yuan payment option for public transportation was already available in Beijing, Ningbo, Guangzhou, Chengdu, and more cities. Chengdu was the first Chinese city to roll out digital yuan payments across its public transportation system. Residents began to pay for transportation on buses and subway lines. Following Chengdu were Beijing and Suzhou. All 24 subway lines and four suburban railway
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