Residents who received “red packets” of digital RMB use the money in a store in Shenzhen, Guangdong Province, on October 14, 2020. Photo: Li Hao/GT
China’s Digital Currency Electronic Payment (DC/EP), also known as digital yuan, has been extended to more consumption areas, including travel and auto repair and maintenance services.
Tuniu.com, a Chinese online travel agency, appeared on the sub-pages of six Chinese state-owned banks for a digital yuan wallet trial application program. Tuhu, a Chinese online-to-offline car repair and maintenance service provider, has been included on the sub-page of the Bank of Communications.
DC/EP has been tried out in some selected Chinese cities, including South China’s Shenzhen, Beijing, Suzhou in…