China will dramatically expand its pilot program for digital currency to include all major large cities, the country’s Commerce Ministry said Friday.
To date, the central-bank-led trial program has been under way in four cities and in places related to the 2022 Beijing Winter Olympics. With Friday's announcement, the pioneering initiative to launch an electronic payment system will cover 28 provinces and cities, including Beijing and Shanghai, as well as the neighboring cities of Hong Kong and Macau.
The ministry said the initiative will “carry out digital RMB pilot programs in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, and the pilot regions in the central and western regions where conditions permit.”