Changshu city in Jiangsu Province, eastern China, will begin Pay it all public section personnel in e-CNY, better known as digital yuan, from May 2023.
this is important in Promote to digital Yuan, China official digital money. the decision will affect government personnel, educators, healthcare professionals, journalists and technicians for A certified media outlets and staff of state-owned companies.
Changshu city efforts in Strengthen digital yuan
the introduction of digital yuan payments in Changshu city part of China more Extensive initiatives for the advancement of centralization digital currency.
Changshu city has been promoted digital Yuan pilot programsand many more consumption scenarios can already use digital yuan payments. Moreover, the digital The yuan app has been linked to popular payment systems like Alipay and WeChat Pay.
Users can make payments with they digital Yuan governor on WeChatprograms mini, and th feature it will be available in more scenarios.
Since June 2022, Changshu City has used a digital yuan to pay the salaries of about 4,900 government enterprise employees who I worked overtime for 2.5 million yuan. she has also It was used for payment for Housing expenses, payments to high-tech companies and transportation for local government employees.
digital yuan facing challenges Despite the efforts
Chinese government King’s exploration began digital currency in 2014. The system’s first test seem in Experimental cities such as Shenzhen, Suzhou, Xiongan, and Chengdu in 2020.
Despite the government’s efforts to promote digital Yuan, still facing challengesincluding limited transaction capacity and public preference for common digital Payment platforms such as WeChat Pay and Alipay.
Local governments have been actively promoted digital Currency by promoting business and public facility to accept it. some people Owns also I started smallTests scale for use They have to pay for government Subsidies.
In February 2023, the Jiangsu Provincial Administration unveiled a proposal to expand adoption of the digital Yuan by 2025 - the idea is called for government purchases, tax payments, social Security, medical and educational expenses.
although digital The yuan was mainly used domestically, and some economists believe that Western sanctions on Russia, including the resource-rich country, is being cut down off From SWIFT, China encouraged to accelerate development of the digital yuan.
Hong Kong also cooperation with People’s Bank of China (PBoC) is experimenting with cross-border payments using the digital Yuan, to enable the citizens of Hong Kong and the Greater Bay Area to benefit from it for Travel, living expenses and retail purchases.
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