PSBC to Create Digital Renminbi “Demonstration Village” in Dalian, Provide Payments Capability to Agricultural Market

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One of China’s big state-owned banks plans to bring Digital Renminbi payments capabilities to agricultural businesses in the country’s far north-east.

Postal Savings Bank of China (PSBC) said it is currently in the process of creating a Digital Renminbi “trial demonstration village” (试点示范村) in the Liaoning province port city of Dalian.

The demonstration village will see the provision of Digital Renminbi payments capabilities to businesses at an agricultural market, including shops, fruit sellers, pharmacies, snack vendors, agricultural machinery stations and auto parts stores.

The trial is being undertaken with the support of the Dalian branch of the People’s Bank of China (PBOC), which is the Chinese central bank..

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