The first digital renminbi trial in China’s national capital has been launched in the Lize Financial Business Zone of Beijing’s Fengtai district.
On 29 December the Man Mao Cafe (Slow Cat Cafe) (漫猫咖啡) in the Jintang Tower of the Lize Financial Business Zone began to accept payments from authorised consumers via digital renminbi wallets.
Authorised consumers will be able to download digital renminbi wallets to make payments via QR code scans or the tapping of offline devices equipped with NFC technology.
According to a report from the Beijing Daily the trial is the first of its kind in the national capital following the staging of digital renminbi pilots in other Chinese cities since April 2020.
PBOC announced at the end of April that it had commenced internal testing of the digital renminbi at locations including Shenzhen, Suzhou, Xiong’an New District and Chengdu, as well as at sites for the Winter Olympics.
Since September the Beijing municipal government has flagged efforts to launch its own digital renminbi trial zones, as well as expand the regional digital finance sector.