Chinese island province Hainan is said to be piloting digital yuan from April 12 to 25.
The Industrial and Commercial Bank of China’s Hainan branch, the People’s Bank of China’s Haikou branch, and Sansha city’s municipal government will conduct the pilot, 21st Century Business Herald reported Wednesday.
Specifically, the test will be conducted on Yongxing Island in Sansha city to promote digital yuan usage.
Participants will get 99 yuan ($15) discount for every 100 yuan purchase made on the island, including spending at supermarkets, hotels, and restaurants.
Qingdao, Dalian, and Xi’an cities are also part of the second batch and are expected to trial digital yuan in the coming months.
With increasing pilots, China is becoming closer to launching digital yuan, which it started researching and developing over six years ago.
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