PBOC to Trial Central Bank Digital Currency in Shenzhen, Suzhou; Big Four State-owned Banks to Take Part


The People’s Bank of China’s (PBOC) is expected to commence trials of its proposed statutory digital currency in key southern Chinese cities, with the participation of the country’s leading banks and telecoms companies.

According to a report from Caijing the trials of China’s central bank digital currency will take place in locations including Shenzhen and Suzhou, and involve the participation of the big four state-owned banks including Agricultural Bank of China (ABC), Bank of China (BOC), China Construction Bank (CCB) and the Industrial and Commercial Bank of China (ICBC).

China’s big three telecoms giants will also take part, including China Mobile, China Unicom and China Telecom.

The report arrives just after PBOC stepped up its recruitment drive for blockchain developers in Suzhou via its dedicated fintech subsidiary Yangtze Fintech Co. (长三角金融科技有限公司).

Related stories

Li­bra Won’t Suc­ceed, Chi­nese Cen­tral Bank Will Be First to Launch Statu­tory Dig­i­tal Cur­rency: Top Chi­nese Politi­cian

Chi­na’s Cen­tral Bank Dig­i­tal Cur­rency Ex­pected to Be Based on Cen­tralised UTXO, not Blockchain

Statu­tory Dig­i­tal Cur­rency Will be Di­rectly Ac­ces­si­ble to Those with­out Bank Ac­counts: Chi­nese Cen­tral Bank

Chi­nese Cen­tral Bank Re­cruits Blockchain Ex­perts for Statu­tory Dig­i­tal Cur­rency De­vel­op­ment

Tech Gi­ants and State-owned Banks Could Be First Hold­ers of Chi­na’s Statu­tory Dig­i­tal Cur­rency

Cen­tral Bank Dig­i­tal Cur­rency Ex­pected to Drive In­ter­na­tion­al­i­sa­tion of the Ren­minbi