China's sovereign digital currency - Digital Currency Electronic Payment (DCEP) - is planned to be tested in several major cities in 2021.
The GT notes comments from officials in Beijing, Shanghai and Guangdong Province, (Shenzhen)
- "The pilot testing is only the first step of a 'long march.' Once launched, the digital yuan will reshape China's financial industry and unleash a promising digital finance service sector worth billions of yuan," a Shenzhen-based veteran industry insider told the Global Times on Sunday.
