e-CNY | |
|---|---|
 Digital Renminbi / e Yuan Sign | |
| ISO 4217 | |
| Code | CNY (numeric: 156) |
| Subunit | 0.01 |
| Unit | |
| Unit | yuán (元 / 圆) |
| Plural | The language(s) of this currency do(es) not have a morphological plural distinction. |
| Symbol |  or e¥ / ¥ |
| Denominations | |
| Subunit | |
| 1⁄10 | jiǎo (角) |
| 1⁄100 | fēn (分) |
| Demographics | |
| Date of introduction | 14 August 2020 |
| Official user(s) |  People's Republic of China (Mainland China) Shenzhen, Suzhou, Xiong'an, Chengdu, Beijing, Zhangjiakou, Shanghai, Hainan, Changsha, Xi'an, Qingdao, Dalian, Fuzhou, Xiamen, Guangzhou, Tianjin, Chongqing, Hangzhou, Ningbo, Wenzhou, Huzhou, Shaoxing, Jinhua, Jinan, Nanning, Kunming, Fangchenggang, Xishuangbanna |
| Unofficial user(s) |  Hong Kong  Macau (pilot test) |
| Issuance | |
| Central bank | People's Bank of China |
| Website | www |
| Printer | People's Bank of China Digital Currency Research Institute |
| Website | www.ecny.pbcdci.cn |
| Valuation | |
| Inflation | 2.5% (2017) |
| Pegged with |  Chinese renminbi (at par) |
| Value | 1 USD = 7.171 eCNY 1 EUR = 6.960 eCNY 1 CNY = 1.000 eCNY 1 GBP = 7.946 eCNY (12 October 2022) |
Digital renminbi (Chinese: 数字人民币; also abbreviated as digital RMB and e-CNY),[1] or Digital Currency Electronic Payment (DCEP, Chinese: 数字货币电子支付; pinyin: Shùzì huòbì diànzǐ zhīfù), is a central bank digital currency issued by China's central bank, the People's Bank of China.[2] It is the first digital currency to be issued by a major economy, undergoing public testing as of April 2021.[2][3] The digital RMB is legal tender[4] and has equivalent value with other forms of renminbi, also known as the Chinese yuan (CNY), such as bills and coins.[2]
The digital yuan is designed to move instantaneously in both domestic and international transactions.[2][5] It aims to be cheaper and faster than existing financial transactions.[2] The technology enables transactions to take place between two offline devices.[6][7]
- ^ "China Charges Ahead With a National Digital Currency". The New York Times. 2021-03-01. ISSN 0362-4331. Retrieved 2021-09-02.
- ^ a b c d e Areddy, James T. (2021-04-05). "China Creates its Own Digital Currency, a First for Major Economy". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-04-06.
- ^ Popper, Nathaniel; Li, Cao (2021-03-01). "China Charges Ahead With a National Digital Currency". The New York Times. ISSN 0362-4331. Retrieved 2021-04-06.
- ^ "解码数字人民币："新"在何处 用在哪里？-新华网". www.xinhuanet.com. Retrieved 2021-04-06.
- ^ Bloomberg (26 Nov 2021) China Looks To Set Up Digital Asset Bourse in Virtual Yuan Push
- ^ "Virtual control: the agenda behind China's new digital currency". www.ft.com. Archived from the original on 2021-02-17. Retrieved 2021-04-06.
- ^ "Beijing's digital yuan policy will have its Huawei moment". Nikkei Asia. Retrieved 2021-04-09.