People's Bank of China Adds 8 New Digital Renminbi Operating Institutions

The People's Bank of China has added eight new institutions for digital renminbi operations: Ping An Bank, Hengfeng Bank, Bohai Bank, Shanghai Bank, Hangzhou Bank, Huishang Bank, Changsha Bank, and Guangxi Beibu Gulf Bank. These institutions will connect to the central bank's digital renminbi system. The new institutions will commence digital renminbi operations after completing their business and technical preparations, bringing the total number of operating institutions to 30. The People's Bank of China will continue to expand the number of operating institutions in accordance with market-oriented and rule-of-law principles, stimulating the enthusiasm of market participants and building an open and fair environment for the development of digital renminbi.

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