Timeline of e-CNY

・ 2014: PBOC launched research into China's central bank digital currency (CBDC)

・ 2016: Digital Currency Research Institute under PBOC was founded and built first prototype e-CNY

・ 2017: PBOC teamed up with commercial institutions to deepen e-CNY's research and development

・ Late 2019: e-CNY was tested in 10 Chinese cities and at 2022 Beijing Winter Olympics venues

・ 2020: First e-CNY application was realized in Suzhou by granting transportation allowances to certain users

・ July 2021: PBOC released e-CNY white paper