The People's Bank of China has added 8 new digital renminbi business operation institutions

To implement the decision-making deployment of the "14th Five-Year Plan" regarding the "steady development of digital renminbi" and to further enhance the inclusiveness of digital renminbi services, continuously responding to the public's demand for safe, convenient, and efficient digital renminbi services, the People's Bank of China has added Ping An Bank, Hengfeng Bank, Bohai Bank, Shanghai Bank, Hangzhou Bank, Huishang Bank, Changsha Bank, and Guangxi Beibu Gulf Bank as operational institutions for bank-related digital renminbi services, and has connected to the central bank's digital renminbi system.

The newly added institutions will commence digital renminbi operations after completing business and technical preparations. Currently, the number of operational institutions for digital renminbi services has expanded to 30. In the next step, the People's Bank of China will orderly promote the expansion of operational institutions according to market-oriented and rule-of-law principles, further stimulating the enthusiasm and creativity of market entities, and building an open, inclusive, and fair competitive environment for the development of digital renminbi.