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China’s Aviation Authority Approves Digital Yuan for Ticket Purchases
China’s Civil Aviation Administration (CAAC) has officially approved the digital yuan for purchasing air tickets. The company issued a notice on July 18, 2023, via a blog post.
Spring Airlines was the first aviation company to allow payments for its ticket with the digital yuan in 2021. The carrier received 560 yuan for a flight ticket from Shanghai to Shenzhen. Xiamen Airlines soon followed suit in November of the same year. Afterward, Beijing Daxing International Airport and Beijing Capital International Airport also unveiled a digital yuan initiative in 2022. However, widespread use of the asset in the aviation sector did not follow.
Partnership for Air Tickets
With the new development, the CAAC is partnering with the China Merchants Bank (CMB) to launch a digital yuan payment platform. The platform is known as the Civil Aviation Ticket Government Procurement Management Platform Application Digital
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