CBDC transactions reach 7 trillion yuan, PBoC official says
Figure suggests e-CNY transactions almost quadrupled in the year to June
Digital yuan transactions reached seven trillion yuan ($986 billion) by the end of June, according to Lu Lei, deputy governor of China’s central bank.
The accumulative figure is nearly four times the 1.8 trillion yuan recorded by the end of June 2023. This suggests that people used the central bank digital currency (CBDC) for transactions worth 5.2 trillion yuan over the following 12 months.
The People’s Bank of China (PBoC) started developing the digital yuan, or e-CNY, in 2014. It launched the
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