BUSINESS China's central bank urges more convenient use of digital yuan

BUSINESS

China's central bank urges more convenient use of digital yuan

Xinhua

21:32, September 09, 2022

BEIJING, Sept. 9 (Xinhua) -- China's central bank has called for efforts to facilitate interconnectivity between the digital yuan system and traditional e-payment tools to make it more convenient for customers to use digital currency.

Photo taken on Oct. 12, 2020 shows a sign reminding customers that digital yuan is accepted at a supermarket in Shenzhen, south China's Guangdong Province. (Photo: Xinhua)

To realize this goal, more efforts should be made to expand the scenarios and environment for the use of the digital yuan, Fan Yifei, deputy governor of the People's Bank of China, said at a recent forum on digital finance in Beijing.

Specifically, regulations and standards in areas such as digital identities, Bluetooth, and QR codes should be unified to improve the interconnectivity of various types of payment tools, according to Fan.

The deputy governor also underscored improving the security of digital yuan use via upgrading relevant technologies to avoid user-information leakage and eliminate data security risks.

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