China expands digital yuan operating institutions to 30

China's central bank has expanded the number of banking institutions authorized to operate digital yuan businesses to 30, as part of efforts to promote the steady development of the central bank digital currency and improve its accessibility.

The People's Bank of China said on Monday that it has added Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Gulf Bank as digital yuan business operating banking institutions.

The newly added institutions have connected to the PBOC's digital yuan system and will launch digital yuan services after completing necessary business and technical preparations, the central bank said.

The move aims to further enhance the inclusiveness of digital yuan services and better meet public demand for secure, convenient, and efficient payment services, according to the PBOC.

The central bank said it will continue to expand the pool of operating institutions in an orderly manner under market-oriented and law-based principles, while encouraging greater participation and innovation from market entities to build an open, inclusive, and fair environment for digital yuan development.